site.btaIT Companies in Bulgaria Oppose Automatic Annual Increase of Maximum Social Insurance Income

Seven organizations representing the high-tech sector in Bulgaria oppose the introduction of a formula for automatic annual increase of the maximum social insurance income, proposed by the Ministry of Finance.

The organizations argue that the proposed formula, especially in a version based on the national average wage, "spells a risk of eliminating, quickly and irreversibly, the competitiveness of the Bulgarian high-tech sector and of all other sectors that operate transparently, contribute substantially to the national budget by paying the highest taxes and social security contributions, retain talents in this country and generate high value added for society."

The position, received at BTA, has been signed by the Association for Innovation, Business Excellence, Services and Technology (AIBEST), the Alliance of the Technological Industry (ATI), the Bulgarian Association of Information Technologies (BAIT), the  Bulgarian Association of Software Companies (BASCOM), the Bulgarian Entrepreneurial Association (BESCO), the Bulgarian Employers' Association Innovative Technologies (BRAIT), and ICT Cluster.