Welcome
Daily Tax Report ®

Bulgaria Takes Step to Cut VAT for Restaurants

May 22, 2020, 10:05 AM

Lawmakers approve amendments to cut VAT for restaurants to 9% from 20% to support tourism in the coronavirus crisis, Speaker Tsveta Karayancheva says.

  • Amendments come into force as of July 1 through end-2021
  • VAT for print and digital books also cut to 9%
  • NOTE: The measure will reduce state budget revenue by about 163m lev and may need to be compensated by changing the general VAT rate or the corporate tax, the finance ministry says in a statement
  • NOTE: Bulgaria May Cut VAT for Restaurants, Books From July 1

To contact the reporter on this story:
Slav Okov in Sofia at sokov@bloomberg.net

To contact the editors responsible for this story:
Irina Vilcu at isavu@bloomberg.net

Andras Gergely

© 2020 Bloomberg L.P. All rights reserved. Used with permission.

To read more articles log in. To learn more about a subscription click here.