site.btaSocial Partners Unanimously Approve Tax Law Package

October 8 (BTA) - The National Council on Tripartite
Cooperation (NCTC) unanimously approved a package of draft
amendments to tax laws, Deputy Prime Minister Valeri Simeonov
told journalists on Monday. Simeonov chairs the NCTC, which is
Bulgaria's main social partnership body.

The package includes draft amendments to the Corporate Income
Tax Act, the Personal Income Tax Act, the Local Taxes and Fees
Act, the Accountancy Act and the Value Added Tax Act, among
other laws.

All participants in the meeting agreed on the need to relax the
financial auditing of small companies whose staff is below 50
people. Simeonov said that on Wednesday, when the Council of
Ministers will consider the package, he will propose easing the
terms of financial auditing.

Employers and trade unions had reservations about the proposed
increase of the eco charges on used vehicles and about the
planned introduction of more rigorous requirements concerning
the use of catalytic converters in vehicles. The unions proposed
 setting an income tax threshold and lowering VAT on foods and
staple goods. The employers are firmly opposed to a potential
increase of the maximum monthly contributory income from 2,600
to 3,000 leva. RY/VE