On 26 November 2020, the Parliament passed conclusively the 2021 Budget Act, which will enter into force on 1 January 2021. In the transitional and final provisions, Parliament today voted on child benefits and on tax breaks for childcare. The changes included in the Budget are given below:
- The annual corporate income tax return deadline is permanently changed from 31 March to 30 June of the following year (30 June deadline provided in 2020 due to COVID-19).
- The deadline of personal income tax return is permanently changed from 30 April to 30 June of the following year (30 June deadline provided in 2020 due to COVID-19).
- The minimum working wage is proposed to increase to 650 leva starting as of 1 January 2021.
- Teachers’ salaries will be increased, in respect of which 360 million leva have been set aside.
- The pay of workers at the frontline of the coronavirus epidemic will grow by 30% while public sector salaries will increase by 10%.
- The minimum pension for contributory length of service and age is set to increase by 50 leva to 300 leva, in respect of which 474 million leva have been set aside.
- A deferral of the reinvestment tax incentives for manufacturing companies operating in high unemployment municipalities through 2023.
- The due date for declarations on adjustments is 15 November 2020.
