Bulgaria Scoops BGN 17 M after Air Strikes on Luxury Mansions

An air shot of luxury properties near Sofia whose owners attracted the attention of the tax agency. Photo by BGNES

About BGN 17 M have went to the state treasury as a result of the tax checks from Operation Helicopter by the Bulgarian National Revenue Agency (NRA), its director Krasimir Stefanov announced.

The operation, carried out in September and October, mapped out luxury properties and mansions around the country through air surveillance in order to identify their owners and investigate their sources of wealth.

Tax violations have been registered in 400 properties around the country, data from the checks showed, and 1184 applications for registration of properties have been submitted in Sofia during the NRA campaign.

According to Stefanov, the most common violations are that luxury residential properties are declared as company-owned, and so a tax credit is drawn. Expenses for supplies are also accounted as company's, which reduces the corporate tax.

The head of NRA pointed out that people who do not declare incomes at all, tend to buy luxury properties.

He also added jokingly that tax evasion has become a Bulgarian national sport in the last 20 years.

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