Excise duty on natural gas to be introduced as of June 2012 but it will be twice lower than initially planned

An excise duty will be levied on natural gas as of June 2012 but it will be twice lower than initially planned, the Government decided at an extraordinary meeting today, approving the 2012 State budget and amendments to several tax laws. Finance Minister Simeon Djankov explained that after the winter season, the price of gas used as engine fuel will increase by BGN 0.85 per gigajoule, and of that used for heating – by BGN 0.10 per gigajoule. The initial idea was to levy a BGN 1.80 excise duty on the natural gas used as engine fuel as of January 1, 2012 and a BGN 0.20 excise duty on the fuel for heating.

Raising the excise duty on natural gas is projected in an EU directive adopted in 2003 but Bulgaria obtained a 10-year derogation and the deadline expires in October 2013. “This is a gesture to the next government, which will have to increase the excise duty as soon as it comes to power. Therefore, we will make the first step in 2012,” said Djankov. No excise duty will be imposed on the natural gas for household purposes. But gas oil and kerosene prices will rise from BGN 615 to BGN 630 per 1,000 litters by early next year. Officials from the Ministry of Finance expect some BGN 10 mln more to enter the budget from the introduction of excise duty on natural gas.

Amendments have been introduced to merely two of the five tax laws. People who receive income under labour contracts alone will be exempt from the requirement to file a tax return. This will affect nearly 350,000 people and they will not have to submit declarations to the National Revenue Agency in 2011. In the calculation of tax liabilities, the figures will be rounded off to the benefit of citizens up to BGN 1 and liabilities under BGN 1 will be automatically nullified.

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