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PHOTOS: Press center of the Council of Ministers.
VAT becomes 9% for restaurants, catering establishments and the entertainment sector, classified in the Tourism Law. This was agreed at a working meeting by Prime Minister Boyko Borissov and representatives of the Bulgarian Restaurant Association and the Bulgarian Organization of Hotels and Restaurants.
Prime Minister Borissov emphasized that the decision is a political risk, but supports COVID-19’s losses in the restaurant industry.
“We make an exception for you, because with our order the sector is closed, figuratively speaking. And this is the case throughout the world. This may be a measure that will later give good results and will be lasting. Everything is in our hands,” he said. Prime Minister Borissov. He emphasized that with the changes discussed in this way with the reduction of VAT, it means that the turnover and activity of restaurants and hotels should be 100% in light.
“In this sense, we have a duty to fulfill our commitments. The Finance Minister is very much against it, but I want to refute it at the end of the year with more income,” Prime Minister Borissov said.
“We are committed to making this happen the way we talk to you,” industry representatives said.
The meeting also agreed to postpone the entry into force of the amendments to Ordinance H-18 for a period of one year, as a result of which it will take effect on March 1, 2021.
During the meeting it was stated that the preparation of a crisis plan will be assigned, including the provision of loans and donations by BDB with the participation of experts from the tourism sector. The abolition of the non-debt criterion with the state only for 2020 was also discussed when requesting measures to face the economic consequences of the coronavirus.
The changes, which were agreed at the working meeting with Prime Minister Borissov, will be presented today to the National Assembly by the GERB General Assembly.
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