Bulgaria’s Ministry of Finance has decided to abandon the proposed tax on subsoil resources, according to Acting Deputy Prime Minister and Minister of Finance, Lyudmila Petkova. During a parliamentary blitz control, Petkova explained that the Minister of Energy would increase concession fees to compensate, at least partially, for the anticipated revenue loss. Additionally, a one-time fee will be introduced for mining companies, and part of the revenues will be derived from Bulgaria’s expected accession to Schengen.
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