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30% of Bulgaria Fuels Market Is in Gray Economy

Date: 18.08.2009

The budget is loosing around BGN 350 M a year from fuels illegal import

30% of the fuels market in Bulgaria is part of the gray economy, and the budget is loosing around BGN 350 M a year from fuels illegal import.

This has been announced Thursday by the Bulgarian Petroleum and Gas Association (BPGA), the Pari Daily reported.

BPGA clearly presented a statement in favor of the measures against the fuels and petrol products contraband in Bulgaria, and the for fighting the value added tax (VAT) draining schemes.

The association hailed the idea of the government to tighten the control over the import and trade with petrol products, as well as cutting the paths of VAT draining in the sector.

If the influence of different criminal structure over the Bulgarian market is not stopped, in a shot time there will be no other choice for the legal players on that market to turn for help to the European Commission and the EU, representatives of BPGA explained.

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