The National Movement Simeon II (NMSII) will introduce only two rates for personal income taxation – nine and 19 per cent, if it wins a second term in office. This is envisaged in the party’s economic programme that was presented to business people yesterday. The levels of taxable income will be reduced from five to three. The first will cover non-taxable minimum incomes, the second, low and middle incomes, which will be levied at a rate of nine per cent tax. The rate for the richest will be 19 per cent, while currently they are taxed at a rate of 26 per cent.
The new tax table is in fact an introduction of the flat tax principles, said the head of the NMSII election headquarters, Lydia Shuleva. The party programme also envisages a reduction in the social security burden from 29 to 26 per cent. This will be achieved by cutting the contribution percentage for the state pension fund. Meanwhile, more money will be redirected to private pension companies. (Novinar)