Associations of Knowledge Industry in Bulgaria united behind the position against increasing the maximum insurance income

AIBEST, together with all the associations that represent the high-tech and Knowledge Industry in Bulgaria - Bulgarian Association of Software Companies (BASCOM), Bulgarian Association of Information Technologies (BAIT) and Cluster Information and Communication Technologies Foundation (ICT Cluster), as well as the Bulgarian Employers' Organization of Innovative Technologies (BRAIT), united behind the position against increasing the maximum insurance income.

Representatives of the organizations held meetings in October with ministers and teams in the Ministry of Economy, the Ministry of Labor and Social Policy, and the Ministry of Finance and defended their position.

In the Ministry of Labor and Social Policy and the Ministry of Finance, they received assurances that at present no changes will be made in the tax framework and the level of the maximum insurance threshold. If such a measure is ever taken in the future, it will happen only after extensive consultations with the branch organizations, as well as a serious analysis of the impact and long-term consequences on the tax-insurance system and the state budget.

At the meeting at the Ministry of Economy, the representatives of the innovative business received full understanding and support for their arguments.

At all three meetings, the high-tech industry emphasized the contribution of the companies it represents to the budget, as well as the added value for the development and digitalization of the Bulgarian economy. It is unacceptable for employees in innovative companies to be constantly "punished" with higher taxes and social security contributions, instead of being supported as a successful model for education, professional realization, and personal development.

The associations insisted on a regular dialogue with the three ministries in order to avoid reckless and harmful decisions for the sector as well as suggesting the proper gradually planned roadmap of any tax or social security changes so Bulgaria continues to attract foreign investors in the sector.

A number of other issues of key importance for the development of the ecosystem and entrepreneurship in Bulgaria were discussed at the meetings in a constructive spirit, such as accelerating the procedures for issuing a blue card, supporting the sector's efforts in the field of education and staffing, and expansionary digitalization of the economy.