Profit is measured as a percentage of revenue. Its rate in retail food trade is falling. The problem is that absolute values are compared. Thus, the executive director of the Association for Modern Trade Nikolay Valkanov commented on Nova TV about the government's plans to introduce an excess profit tax for large retail chains.
On the air of “Hello, Bulgaria” on Nova TV, Valkanov pointed out that the state does not actually take into account if the store has expanded its network and created new jobs. "The regular taxpayer is being taxed with an extraordinary burden", Valkanov also commented.
According to him, the potential funds that can be collected from large chains are insignificant against the background of the hole in the state budget.
The expert noted that a larger excess profit tax could be taken from the profits of operators with vouchers. He also noted that this is the most expensive instrument for purchasing food from stores, since when processing it, the merchant owes three different types of fees.
Valkanov explained that in reality this is an extraordinary tax, not an excess profit tax. And he emphasized again that in this way regular taxpayers are "punished".