13.10.2012

The debate on interest earnings overshadows the main topic that next year the money for pensions, education and culture increases by about BGN 600 million, Deputy Minister of Finance Vladislav Goranov said in the TV7 The Factor Koshlukov Studio. This is a withholding tax and there is no need to submit a tax declaration, there will be no personal data submitted to the NRA, thus the banking secrecy will not be revealed. There is no reason for and people should not out of concern withdraw their money from the banks, the Deputy Minister of Finance stated. No minimum threshold is foreseen for interest earnings taxation, holds the Deputy Minister, and according to him the tax will not affect the poorest. Most of the revenues therefrom will come from the rich who have large bank deposits.  The tax on interest earnings is not a new tax. This is broadening of the tax base of the flat rate tax and if part of this money goes into consumption, this will be favourable for the economy. According to Deputy Minister Goranov the most urgent reforms that need to be implemented are in the higher education and healthcare fields.

\"The raising of the minimum salary will not put pressure on employers; thus the grey sector coverage is being narrowed in Bulgaria\", Goranov commented and added that unfair competition would also be reduced. To the question whether the FDI lowered, the expert answered that in 2012 they were times higher compared to the period 2010-2011. Bulgaria receives investment inflows thanks to its EU membership and the low tax rates. The 2013 budget is feasible and the focus is on increasing income, stated the Deputy Finance Minister in conclusion.