Bulgaria has increased the property tax

The Bulgarian government adopted a proposal to raise the maximum rate property tax from 0.2% to 0.25% of the property value. Also, the upper limit of the tax on real estate transactions has increased from 2.6% to 3%, although this may not lead to an increase in payments because of their size is set city councils who are concerned that such a step may lead to lower tax revenues. In addition, the estimated value of the threshold at which the applicable tax deductions will amount to 2520 leva instead 1680. Changes in taxation are designed to increase income of small municipalities, where real estate is cheap, and many owners do not pay property taxes. Also, authorities have approved a plan to introduce similar tax rates on all types of gambling. Thus, the state lottery and private bookmaker of Eurofootball, taking bets with fixed win amount will not pay 10, and 12% to its turnover. Bulgaria's Finance Minister Simeon Dankov said that the Cabinet has not discussed the possible increase vehicle tax next year. On this Site sofiaecho.com