On 14 June 2019, members of parliament submitted a proposal for amendments to the Personal Income Tax Act regarding the tax deduction for dependent (minor) children. Currently, a tax deduction is available for up to three children in which case the annual taxable income of one of the parents is decreased by BGN 200 for one child, by BGN 400 for two children and by BGN 600 for three children. Under the proposal, the annual deduction would be increased to BGN 6,000 per child without the current limitation of up to three children.
As a next step, the proposal will be voted on at two readings by the parliament. Further developments will be reported as they occur.