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Bulgaria Revenue Agency Launches Audits to Counter VAT Fraud

Date: 24.11.2009

The Value Added Tax (VAT) fraud attempts in Bulgaria have skyrocket in the first 6 months of 2009. The information is revealed through the analysis of the National Revenue Agency (NRA) of audits conducted in the firs half of 2009.

The audits show that the overdue VAT for the period is BNG 748 M – three times more compared to the fist half of 2009. In the meantime, the difference between the declared revenues from Bulgarian merchants to NRA and the declared supplies for those merchants on the part of European companies through the EU system of exchange of VAT information is on the rise. In the first 3 months of 2009 the difference is over BGN 480 M. In addition, in the beginning of the year NRA has sent to the EU tax authorities over 1 400 requests for information, which is an increase of 40 % compared to 2008. The requests are usually sent when there is suspicion of international VAT fraud and evasion.

The NRA Executive Director, Krasimir Stefanov, says that the VAT registered companies in Bulgaria are nearing 200 000 and their control and monitoring are becoming more difficult.

“Because it is expected that NRA would provide a significant share of the State's funds, we are applying all possible effort to collect any due tax while avoiding burdening the well-intended taxpayer. We cannot afford to violate the tax discipline either and this why we are beginning to very carefully verify any request for tax refund,” Stefanov is quoted as saying.

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