November 2 2020

Bulgaria Proposes Increase in Minimum Salary

Source: IBFD Tax Research Platform News

On 29 October 2020, as part of the 2021 draft bill, Bulgaria officially proposed increases in the minimum monthly salary (from the current BGN 610 to BGN 650) and the minimum monthly social security income for self-insured persons (from BGN 610 to BGN 650) as from 1 January 2021.

In that context, the Council of Ministers submitted to the Bulgarian parliament the following draft acts:

  • the Budget Act for 2021, available¬†here; and
  • the Act on the budget of the State Social Security for 2021, available¬†here.

Furthermore, it was proposed that the maximum monthly social security income remain unchanged at BGN 3,000. Finally, no changes to the social security contribution rates are envisaged.

As a next step, the acts must be voted on at two readings by the parliament.

Further developments will be reported in due course.