Significant increase of social insurance thresholds

On 7.03.2022, National Revenue Agency in Bulgaria has published new thresholds of insurance income.

Тhe minimum monthly salary currently is BGN 650 – for the period from January 1 to March 31, 2022 and will become BGN 710 – for the period from April 1 to December 31, 2022.

Maximum monthly amount of the insurance income is BGN 3,000 – for the period from January 1 to March 31, 2022 and will become BGN 3,400 – for the period from April 1 to December 31, 2022.

The increase will affect employees who have a taxable income of more than BGN 3,000. Their Net income will decrease and at the same time the cost for the employers will also increase.

For instance, if an employee receives a salary of BGN 3,400, from 1st of April his/her social insurance contribution will increase with almost BGN 50 and employer’s contribution with BGN 75.

.

Recent Posts

Public Holidays in Bulgaria: A Guide for Employers - Leinonen
March 7, 2025

Public Holidays in Bulgaria: A Guide for Employers

Bulgaria is a country rich with cultural and religious heritage, and its citizens hold a great sense of national pride. Public holidays in Bulgaria are…

Continue reading
February 20, 2024

ELCTRONIC EMPLOYMENT DOCUMENTS

The employer has the obligation to crate employee’s file when employment relations start and store the documents related to the beginning, existence, amendment, and termination…

Continue reading
February 16, 2024

Making the Switch to E-invoicing in Bulgaria: Everything you Need to Know

Modern accounting systems and processes are becoming more streamlined and automated than ever before. In 2024, e-invoicing is increasingly being adopted by European businesses and…

Continue reading