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Possible reduction in VAT rates in Bulgaria
Summary
The Bulgarian government has proposed temporarily reducing the Value Added Tax. That will mostly impact domestic fuel and basic foodstuffs.
Content
More precisely, a reduced rate will be applied on basic foodstuffs, non-alcoholic drinks, medical products, heating electricity and gas. The proposal now moves to Parliament. The measure could come into effect from 1 April 2022. The reduction of VAT rate is similar to it is in other European countries, but the reason for this, how Tax authorities have said, is growing inflation in Bulgaria.
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