Financial and business news from Bulgaria

BGN 25 billion is the proceeds to the NRA for 2020 - 1.1 billion more than 2019

Nearly 25 billion leva is the proceeds in the National Revenue Agency in 2020, which is over 700 million levs above planned and over 1.1 billion more than the previous year 2019, reported by the NRA.
Despite the coroncrisis, businesses and citizens paid in good faith taxes and insurance, reported by the revenue agency. The trend of growth of receipts in the treasury is maintained, and last year it is about 5% compared to the previous one, the departmental adds.

In 2020 tax revenues amounted to a total of BGN 14 billion. Of these, over BGN 2.6 billion were paid by business for corporate taxes and BGN 3.7 billion from personal income tax. The proceeds from the value added tax are BGN 7.6 billion.

The total amount of revenues from social security contributions is BGN 10.6 billion, of which BGN 6.3 billion are for state social security, BGN 2.7 billion — for health insurance contributions and BGN 1.5 billion — for additional compulsory pension security.

“2020, among other things, turned out to be a year of clearly expressed tax solidarity. Some economic sectors have been hit hard, others have experienced an upswing, but what is common is that, despite the difficulties, businesses and citizens have correctly respected their commitments to the budget. We value this highly,” said the executive director of the agency Galya Dimitrova, on the occasion of the record receipts in the NRA.

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