Bulgaria among the first in terms of tax burden decrease

Bulgaria ranks among the best performers both in terms of lower taxes and a decline in the tax burden, highlights the Eurostat report. In 2010, taxes collected in Bulgaria generated 27.4 % of the gross domestic product of our country. In 2009, the share of these revenues as a percentage of the economic output was 29%. As a result, Bulgaria ranked third in the EU in terms of largest decline in the tax burden. We are outpaced by Hungary, where the percentage decreased from 40.1% to 37.7% and by Lithuania, where the rate slumped from 29.2% to 27.1%. There is also a serious decrease in Estonia - from 35.7% to 34.2%, reported also the European statistics. For the same period, the largest jump in the tax burden was indicated by Spain where the tax collections generated 31.9 % of GDP compared with 30.7% in 2009. Besides, the UK percentage jumped from 34.8 % to 35.6 %, while in Latvia, it leapt from 26.7% to 27.3%.

In 2010, the frontrunner for the highest share of tax revenue generated by the economic output was Denmark where nearly half of GDP or 47.6 % was generated by the collection of taxes. Based on this indicator, Bulgaria ranked fourth, outpaced only by Romania - by 27.2% and Latvia - by 27.3%. Sweden also reported a high 45.8% share of tax revenues infused to the state Treasury. The average tax burden in the EU reached 38.4% in 2010 and remained unchanged year-on-year, while in the Euro area, there is a slightly decrease from 39% to 38.9% compared to 2009. There is a much wider percentage range in Europe in terms of property taxes. In the Czech Republic, Estonia and Slovakia, the tax revenues infused in the state Treasury reached barely 0.4% of GDP, while in Britain the tax collections generated 4.2 % of GDP and 3.4% in France along with 3.1% in Belgium. In our country, in 2010 as a result of the collection of similar levies, a total of BGN 187 mln were poured into the Treasury or 0.5% of the economic output for a year.

Our country is among the best performers in terms of the the lowest income and corporate tax level this year. In Bulgaria, our income tax was 10%, or nearly 4 times lower the EU average of 38% and it is over 43% for the Eurozone. The highest income tax was reported by Sweden (56.6%), Denmark (55.4%), Belgium (53.7%) as well as by the Netherlands and Spain (52%), Austria and the UK (50%), while the lowest income tax rate of 15% was registered by the Czech Republic and Lithuania, indicated also the Eurostat data.

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