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IwatchBulgaria.com - News - Taxes on labor might increase
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Taxes on labor might increase
submited on 07.10.2010 in category Political stability
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Tax wedge on labor contracts is now 32.3% of labor costs for the majority jobs. New suggested rates would increase it to 34.2% if accepted by parliament. Some of the effects would include:

- for a net wage of BGN 500 employer would face a total labor cost of BGn 759 (up from BGN 739 now)

- for unchanged labor cost of BGN 739 the employee would take home BGN 487 (down from BGN 500 now)

- self-employed would see taxes rise by 12.5%.

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