The State Offers Tax Reliefs for Working Parents in 2027

The state has announced plans to increase tax relief for working parents in 2027. For one child families are expected to get back 500 euros, instead of the current 600 leva. For two children the relief will be 800 euros, rather than 1200 leva, while for three or more children the amount is planned to reach 1100 euros versus 1800 leva before. For a child with a disability the relief will be 1000 euros.

A new tax relief for child development has also been proposed, which will cover expenses for health, educational and sports activities. The amount of support will be up to 2000 euros for one child, 4000 euros for two children and 6000 euros for three or more children, with expenses needing to be documented.

Changes are also planned for food vouchers – their maximum value for workers would increase from 100 to 200 euros per month, but with a 7% taxation.

Among the other proposals are raising the threshold for mandatory VAT registration to 75 thousand euros and increasing tax assessments. It is also proposed to impose a 33% tax on excess profits of banks, insurers, telecoms, certain retail chains, exchange bureaus and consumer finance companies.

From the Ministry of Finance they estimate that the net effect of the measures will be 1.123 billion euros.

Source: Telenews