Parliament adopts at first reading amendments to the Corporate Income Tax Act, changes in transport vehicle tax18 October 2018 | 11:19 | FOCUS News Agency
According to the new provisions, the tax on automobiles and trucks up to 3.5 t will be determined by a formula that takes into account the engine power and the year of manufacture, on the one hand, and the environmental impact category of the vehicle, on the other hand, that is, the size of the tax will depend on the pollution the vehicle causes. “No more than 20-30% will be the tax increase for older cars, and given that their tax is generally lower, it is a moderate step. Besides, it is high time that we, as society, made a decision whether we, our children, want to continue to breathe this [polluted] air,” the MP from GERB and Chair of the Budget Committee Menda Stoyanova commented.
Aiming to alleviate administrative burden, the changes also enable notaries in a car purchase deal to check whether the vehicle’s taxes have been paid through an information exchange system maintained by the Ministry of Finance.
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