Planned tax changes for 2027 trigger sharp reactions in Parliament

The government’s planned tax changes for 2027 have drawn criticism in parliament. GERB-SDS coalition described the proposed 33% tax on excess profits of banks, consumer lending companies, insurers, telecommunications operators and retail chains as a blow to businesses and a negative signal to investors. Former Finance Minister Temenuzhka Petkova said the measure would penalise companies that are performing successfully.

The planned excise duty on cars with engines rated at more than 250 kW, or around 340 horsepower, also sparked controversy. Yordan Ivanov of Democratic Bulgaria called for electric vehicles to be exempted, arguing that the state should encourage more environmentally friendly transport.

Asen Vasilev of We Continue the Change also backed the exemption for electric vehicles and warned that the measure could be circumvented by registering high-powered cars in another country.

Edited by Miglena Ivanova