A Special Fund will administer the funds collected by the oil companies. The money will compensate users of the column

Energy / Bulgaria
3E news
article picture alt description

It is expected that from the beginning of next year, the new measure to support people and businesses related to fuel prices will become effective. When companies and people refuel, there will be support that will actually reduce the price of fuel for them, explained the Acting Minister of Economy and Industry Nikola Stoyanov, quoted by BTA.

The subsidy per liter of fuel will be increased and it will also apply to companies, and it is yet to be specified in what proportion, the minister explained. The scheme will be completely changed, explained Stoyanov, reminding that 150 million BGN was planned for the discount of 25 cents per liter of fuel for individuals. According to him, now the money will no longer come from the budget, but from the surplus profits of the companies in the sector, which will accumulate in a Fund administered by the finance department. This Fund will support the price per liter for companies and citizens. At the moment, it has not yet been specified whether the amounts will be the same for businesses and individuals, commented the minister. The decision on this is in the hands of the National Assembly.

The Minister reminded that yesterday the changes in the laws that are necessary for the implementation of this intention were submitted to the Parliament, the most important being the amendments to the Law on Corporate Income Taxation, and the others are in by-laws, which will be dealt with by the Council of Ministers.

Stoyanov expressed hope that by the end of November the regulatory framework will be adopted and the taxation of excess profits will start, which will start replenishing the fund, and the expectations are that it will begin to be effectively replenished in December and then it will be possible to start the process of paying out the help. The minister answered positively to a question about whether "Lukoil" has a surplus with which to jointly participate in the future fund.



More from Bulgaria: