Income tax of interest on deposits will increase again to 10% in 2015. This was announced by the chairman of the budget committee, Menda Stoyanova, to Trud.
The tax was introduced at the beginning of 2013 at the suggestion of the former Finance Minister Simeon Dyankov. The previous National Assembly reduced the rate for this year to 8 percent. Current legislation provides for next year the tax to become 6%, in 2016 – 4 percent, and then drop out completely.
"We will make a proposal to restore the 10 percent amount of income tax from interest. I think there is no reason why these incomes should not be taxed. Even more so in the context of KTB, now 3.6 billion BGN guaranteed deposits and the interest on them will be paid with public funds", comments Stoyanova. According to her, people who receive interest from their savings should participate in the formation of revenues in the budget.
"KTB is an additional argument for this. No reason to release just this one income from taxationStoyanova added. She recalled that there are taxes for income from property, from additional work, from civil contracts, etc.
The interest tax it is not one of the serious feathers in the budget. Even last year, when the rate was 10%, BGN 82.5 million came into the treasury. When the tax was introduced, former Finance Minister Simeon Dyankov announced much more ambitious goals. He expected annual revenues of about BGN 120 million.
From the beginning of the year to September, only BGN 51.9 million came into the treasury from the interest tax on term deposits.