As a response to social unrest, the Bulgarian government to impose new taxes on luxury goods

The socialist Bulgarian government headed by Prime Minister Boyko Borisov annouced last week a new tax on luxury goods, especially on luxury cars and yachts owners as well as on bank deposits of over EUR 50.000. This recent move is yet another blow to the already suffering luxury market in Bulgaria, with declining sales and no perspective for a revival before 2011. as CPP indicated in its recent Bulgaria report.