Bulgaria plans to cut taxes for restaurant and catering services

Bulgaria's ruling centre-right GERB party on Friday proposed cutting the value-added tax (VAT) rate for restaurant and catering food services to 9% from 20% to help an industry hit hard by the coronavirus crisis.

A draft law, published on the parliament website, showed the proposed cut should take effect from July and run through 2021 as a temporary measure to help the sector's recovery and estimated the loss for state finances at 255 million levs ($141 million).

($1 = 1.8087 leva)