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

Bulgarian girl's drawing wins award in global health and art competition

Seven-year-old Magdalena Stoyanova from art school "Kolorit" in Pleven received a gold medal and a distinction from the international children's drawing competition "Health 2025". The award ceremony took place in Sao Paulo,..

published on 11/10/25 10:44 AM

Burgas Airport to be closed for renovation, flights to resume on May 1

A 6-month reconstruction of the runway and renovation of the aprons start at Burgas Airport. November 10 marks 19 years since the start of the Burgas Airport concession. The investment in one of the largest infrastructure projects by..

published on 11/10/25 9:26 AM

Bulgaria boosts security of Lukoil's properties and offices in the country

Bulgaria is strengthening land, water and air security (including with a drone protection system) at Lukoil's sites on its territory, the government press service announced. The State Agency for National Security (SANS) entered the..

published on 11/10/25 8:50 AM