Bulgarian State Reduces Overdue VAT with BGN 100 M

For the past month the Bulgarian government has reduced the amount of VAT overdue to companies with BGN 100 M, according to Minister of Finance Petar Chobanov.

At present, the amount of VAT owed by the state to businesses is estimated at BGN 226 M.

At a meeting with representives of the Bulgarian Construction Chamber, Chobanov reiterated his commitment to return arrears at a more intensive rate.

However, he decried Bulgarian President Rosen Plevnliev's recent veto on a state budget update, saying that it will hamper the cabinet's intentions.

At the event, representatives of the Construction Camber shared their grievances related to working with official institutions, and stressed in particular delayed payments on the part of municipal authorities, reports Dnevnik.bg.

On his part, Chobanov said that the central government is partially to blame for that situation, citing the 2010 decision of the prior government led by ex-PM Boyko Borisov to cut or delay payments to municipalities.

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