site.btaVazrazhdane Calls for Lowering VAT on Fuels

The opposition Vazrazhdane party called on Wednesday for a reduction in value added tax (VAT) on fuels. "There is scope to lower VAT on fuels without affecting the budget, with the aim of supporting individuals and businesses amid rising fuel prices," Vazrazhdane MP Dimo Drenchev told reporters in Parliament.

Drenchev said that every week Vazrazhdane would seek hearings in Parliament with officials and institutions responsible for matters related to prices in Bulgaria. He said the party had requested hearings this week with the Commission for Consumer Protection (CCP) and the Commission on Protection of Competition (CPC), but the request had been rejected.

According to Drenchev, the continued rise in oil prices is alarming. He said Vazrazhdane expects the CCP, the CPC and the Government to take measures, such as reducing VAT on fuels or introducing some form of subsidy for businesses and individuals.

Such measures should begin to be discussed, Drenchev said, arguing that otherwise economic activity could decline by the end of the year.