Financial Supervision Commission Plans Increase in Taxes Paid By Non-Banking Sector

The new Chairwoman of the Financial Supervision Commission Karina Karaivanova is planning a serious increase in taxes paid by pension funds, insurers and the investment community.

Karaivanova has already had meetings with representatives of the non-banking sector.

The goal is for the Commission to become independent from the state budget and for its expenditures to be covered fully by the businesses which it supervises.

The budget of the Commission for 2016 is BGN 10.44 M, while the transfer from the state budget amounts to BGN 3.2 M. The annual proceeds from taxes in 2015 amounted to BGN 5 M

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