Bulgarian Cabinet to Reduce State Firms' Contribution to BudgetFinance | June 8, 2013, Saturday // 15:53| views
Bulgaria's PM Plamen Oresharski. Photo by BGNES
The dividend due from state companies to Bulgaria's budget will be reduced from the current rate of 80%, announced Bulgarian PM Plamen Oresharski.
"This high rate borders on a mechanism for decapitalization of those companies," said Oreshrski in an interview for Darik Radio Saturday.
The PM however chose not to specify the exact reduction that his cabinet is planning.
The rate was increased from 50% to 80% by Bulgaria's former cabinet, formed by center-right GERB party, a move which received criticism from the opposition as hampering the activities of state firms.
In the interview, Oresharski also stated that he has no intentions whatsoever to change VAT rates in Bulgaria.
He further said that structural reforms are in store for Bulgaria's National Revenue Agency and Customs Agency.
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