Bulgarian Govt Restores BGN 0.5 B VAT to Companies

Finance | July 19, 2013, Friday // 15:04|  views

Bulgarian Minister of Finance Petar Chobanov. Photo by BGNES

Bulgaria has restored VAT worth BGN 454 M to the private sector in the first half of July, informed Bulgartian Finance Minister Petar Chobanov Friday.

"As we promised, in the first 12 days of July we returned VAT to companies at a sped up rate," said Chobanov at a press briefing.

"We were especially thinking of small enterprises. 1215 small companies received BGN 60 M, which is a significant financial resource for them," added the FinMin.

Chobanov stated that cabinet will press on with this policy of timely restoring of funds to companies, with which he partially motivated the ongoing update of Bulgaria's state budget.

Former Bulgarian FinMin Simeon Djankov became notorious for hugely delaying arrears and VAT for companies in the name of a balanced budget.

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Tags: VAT, arrears, state budget, Petar Chobanov, Simeon Djankov


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