Last update12:12:22 PM

Back You are here: Home News Mish Mash New Tax for Hotels and Villas?

New Tax for Hotels and Villas?

Bulgaria is considering an introduction of  a new tax of up to 30 % for bed and breakfast accomodation, guest houses, hotels along with higher taxes for luxury cars and villas.

The proposals were discussed earlier in the year, and are looking at the gaining revenue from larger  luxury dwellings and hotel businesses, in comparison to the assessment of average dwellings in cities, towns and villages.

Individual establishment’s bed capacity will be calculated in accordance with the amount of taxation payable.

The new tax was first announced in March of this year, and would be introduced in 2011 after cabinet discussions and a vote later in parliament. It is an attempt to increase finance and help deal with the country’s economic crisis.

Luxury villas and sports cars may also be subject for higher taxations.