site.btaSofia Increases Taxes for the Most Polluting and Largest Engined Cars

ESD 16:34:31 30-12-2019
PP1642ES.116
116 ECONOMY - SOFIA - TAXES - INCREASE

Sofia Increases Taxes for the Most
Polluting and Largest
Engined Cars


Sofia, December 30 (BTA) - At an extraordinary meeting on Monday the Sofia Municipal Council endorsed a proposal by Mayor Yordanka Fandakova to increase the taxes on the most polluting and largest engined cars in Sofia and the tax due on property transactions.

Councillors increased taxes for vehicles of lower emission standards. For the smallest engined cars the increase will vary between 3 and 10 leva. For cars with engines up to 100 hp, which are the commonest, the increase is between 7 and 40 leva for Euro 0,1,2 cars. For Euro 3 and 4 cars the increase will be 17 leva. The local authorities expect to collect 18 million leva more in revenues after the increase.

In order to raise more money for maintenance of the streets and sidewalks in the residential areas the Sofia Municipal Council increased the tax due on property transactions to 3 per cent from the current 2.5 per cent. The Mayor specified this tax is due on transactions with immovable property and cars. Fandakova said that around 115,000 such transactions are done in Sofia every year and over 50 per cent of these are concluded at a value of less than 2,000 leva which means 50 leva in tax.

An extra 20 million leva are expected from this move which will guarantee
more money for the maintenance of streets in the residential areas. LN/PP.