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Parliament Rejects on First Reading Continue the Change's Proposed Amendments to Value Added Tax Act

bta.bg · 12dShare

Parliament rejected on first reading on Wednesday a bill to amend and supplement the Value Added Tax Act (VAT Act), submitted by Ivaylo Shotev and a group of MPs from Continue the Change (CC). Thirty-nine MPs voted in favour of the proposed amendments, six against, while 119 abstained. The bill provides for raising the VAT registration threshold to EUR 84,874 in order to reduce the administrative and financial burden on small and micro enterprises and encourage entrepreneurship. Raising the threshold for mandatory VAT registration will benefit thousands of small traders, craftspeople, start-ups and self-employed professionals, CC Deputy Floor Leader Shotev said. This will enable these businesses and workers to invest in improving the services and products they offer, he added. "We are putting forward this initiative because we do not see such a proposal coming from the Council of Ministers," said CC Chair Assen Vassilev. He called for the bill to be adopted and for the measure to be di

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