Bulgaria Revenue Agency Hits Luxury Yacht Owners

The NRA is conducting check-ups of luxury yachts as part of its program to increase tax collections, fight fraud and tax evasion. Photo by Sofia Photo Agency.

The National Revenue Agency has begun checking the owners of 230 luxury yachts in Bulgaria in a bid to increase tax collections, fight fraud and tax evasion.

NRA has requested and received the names of the luxury yacht owners by the "Maritime Administration" at the Bulgarian Transport Ministry.

NRA agents will investigate the source of money used to purchase the yachts, the way payments have been made, the accounting and property taxes owed.

Owners will need to evidence the source of their wealth, show proof of income corresponding to the value of the yachts and documentation about paid taxes.

 

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