The Ministry of Finance will seek consensus to improve the forecasting and analysis of VAT revenues

The Ministry of Finance will establish a working group, which it expects to propose consensus measures to improve the forecasting and analysis of VAT revenues. In it, besides representatives of the Ministry and the National Revenue Agency, business organizations and all interested parties will be invited to participate.

Minister Rositsa Velkova took this decision in connection with the opinions expressed on the occasion of the published for public discussion the Draft Regulations for Amendments and Supplements to the Regulations for the Implementation of the Law on Value Added Tax. The document has not been approved and has not entered into force. At this stage, the texts proposed in Art. 113 e of the draft, will not be part of the regulations, which will be approved by the Minister of Finance.

All actions of the Ministry of Finance are aimed solely at improving the forecasting and analysis of VAT revenues. However, this will not be at the expense of an increased administrative burden for proper business, on which the development of the economy depends.