Eurostat: Bulgaria has third-lowest tax-to-GDP ratio in the EU

Written by on October 30, 2019 in Bulgaria - Comments Off on Eurostat: Bulgaria has third-lowest tax-to-GDP ratio in the EU

Bulgaria had the third-lowest tax-to-GDP ratio in the European Union in 2018, at 29.9 per cent, according to the EU’s statistics agency Eurostat.

The statistics agency said that the overall tax-to-GDP ratio means the total amount of taxes and net social contributions (including imputed contributions) payable to general government and the institutions of the EU, including voluntary contributions, net of uncollectible amounts; expressed as a percentage of GDP.

“It is one measure of the tax burden. It encompasses the wide diversity of social security systems in the EU,” Eurostat said.

Bulgaria had the third-lowest taxes on income and wealth as a percentage of GDP, at 5.8 per cent, among members of the bloc, Eurostat said.

Taxes on income and wealth include corporate and personal income taxes, taxes on holding gains, payments by households for licences to own or use cars, hunt or fish, current taxes on capital that are paid periodically, and others.

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(Photo: mvr.bg)

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