Significant increase of social insurance thresholds

On 7.03.2022, National Revenue Agency in Bulgariahas 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.

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