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Higher VAT will lead to customer outflow and bankruptcies, says BHRA chairman in Veliko Tarnovo.

  • Higher VAT will lead to loss of customers and bankruptcies
  • Regional structure of BHRA in Veliko Tarnovo opposes the increase in VAT
  • Some parties support the VAT increase, while others want it to remain low
  • VAT is an indirect tax that affects prices and customer demand
  • VAT rates in neighboring countries are lower than in Bulgaria
  • Protests against high VAT started before the COVID crisis
  • Concerns about businesses moving to the informal sector to lower prices
  • Higher prices in the tourism sector may lead to bankruptcies and job losses

Source: bta.bg

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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