Bulgaria: Revenue Growth of nearly 13%

The receipts in the National Revenue Agency as of March 17, 2023 are over BGN 6.4 billion, the NRA reports.

This is BGN 752 million or nearly 13% more compared to the same period last year.

By mid-March, revenues for the central budget exceeded BGN 3.7 billion, which is an increase of 9.8% compared to the first two and a half months of the previous year.

The personal income tax collected by the NRA is nearly BGN 742 million, corporate tax - BGN 57.2 million and nearly BGN 2.6 billion in VAT.

Despite the reduced rate of value added tax for some goods and services from 20% to 9%, VAT revenues in the budget increased by 9%, which is equal to BGN 211 million more compared to the same period of the previous year, they note from the revenue agency.

Income from insurance contributions as of March 17 exceeded BGN 2.7 billion, which is over BGN 425 million or 18.5% more compared to the first two and a half months of last year.

The National Revenue Agency reminds that in 2022 the revenues in the budget are nearly BGN 31.5 billion, which is BGN 3 billion more than in 2021.

"The growth of revenues in the first months of this year shows that the NRA is working effectively even in the current difficult environment. The revenue agency applies the legislation equally to every taxpayer, using all the statutory mechanisms for collecting the debts. The National Revenue Agency is a state institution in which nearly 8,000 employees throughout the country perform their duties professionally and legally, and it is unacceptable to be involved in political speculations and used in election campaigns," said the executive director of the National Revenue Agency Boris Mihailov, quoted by the press center of the agency.