Text size

Interim Finance Minister promises no tax or social contribution increases in 2025

Ministry of Labour and Social Policy proposes increase in the pension insurance contribution

published on 11/18/24 4:46 PM

Lyudmila Petkova

Photo: BTA

Deputy Prime Minister and Finance Minister Lyudmila Petkova has pledged that there will be no increase in social contributions, corporate or personal income taxes in 2025. The Covid-19 pension supplements will not be discontinued and the budget deficit for 2025 will remain within 3% of GDP, fulfilling the requirements for Bulgaria's entry into the eurozone.

Budget revenues will be boosted by an increase in excise duties on cigarettes, a review of whether VAT on bread should remain at 0%, a restoration of other VAT to its pre-pandemic level of 20%, and more efficient collection of tax and social contribution arrears.

Meanwhile, the Ministry of Labour and Social Policy has published an analysis of the mandatory pension insurance system on its website. The report proposes a number of measures, including an increase in the pension insurance contribution rate and the abolition of the EUR 30 COVID-19 supplement for new pensioners.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News 2025 labour and social policy ministry of finance pensions social contribution tax increases

More from category

Grozdan Karadjov: Our goal is to reduce the number of road deaths by 20%

Twenty percent reduction in deaths and 20% reduction in road injuries. This goal was announced by Grozdan Karadjov after the end of the meeting on road safety and the fight against the war on the roads, convened by Prime Minister..

published on 4/9/25 8:39 AM

President Rumen Radev participates in the Delphi Economic Forum

President Rumen Radev will participate in the tenth edition of the Delphi Economic Forum in Greece on April 9 and 10. The event brings together heads of state and government, representatives of the business and non-governmental..

published on 4/9/25 7:05 AM

Tourism sector is looking for solutions for the lack of personnel

The personnel crisis in the tourism sector has reached critical levels, with various data indicating that up to 70% of tourist sites are understaffed. Economic losses from unrealized tourism potential are estimated at nearly 500..

published on 4/9/25 6:45 AM