Bulgaria had the second-lowest tax-to-GDP ratio in the European Union in 2014, at 27.8 per cent, with Romania recording the lowest at 27.7 per cent, according to figures released by EU statistics agency Eurostat on January 15.
Eurostat noted that in Bulgaria, total revenue from taxes and social contributions had been, as a percentage of GDP, 30.3 per cent in 2005, 26.3 per cent in 2010, 27.9 per cent in 2013 and 27.8 per cent in 2014.
The overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of GDP, was 40 per cent in the EU in 2014, compared with 39.9 per cent in 2013. In the euro zone, tax revenue accounted in 2014 for 41.5 per cent of GDP, up from 41.2 per cent in 2013.
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