Bulgaria Football Clubs Hid BGN 3,5 M in Taxes

The total amount of unpaid taxes by football clubs in Bulgaria is BGN 3,5 M, the Sofia City Prosecutor, Nikolay Kokinov, informs.

On Monday, his Deputy Roman Vasilev reported that their office initiated preliminary legal proceedings against four such clubs.

Kokinov stated Tuesday the clubs were not from the capital Sofia, information that contradicts earlier reports the total amount of unpaid taxes was BGN 4 M and the biggest violator is on of the two top Sofia clubs – CSKA.

The probe involves the period between April 1, 2005 until May 31, 2008 and those club employees, who are implicated directly in tax evasion.

The violations include failure to report Value Added Tax (VAT) for the purchase of competing rights, sports equipment, transfers, tournament participation, revenue from the sale of beverages and food at sports facilities among others.

Kokinov declined confirming reports the investigation also includes money laundering charges.

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