Posh Sofia Nightclubs Found to Massively Hide Turnover

Crime | July 27, 2011, Wednesday // 20:38|  views

Revenue and police officers carry confiscated equipment from the raided Biad night club in downtown Sofia. Photo by BGNES

A revenue agency raid uncovered close to EUR 25 M of turnover hidden by a company operating 7 high-end night clubs in the Bulgarian capital Sofia.

According to information released by authorities the VAT evaded by the company amounts to EUR 5 M, with corporate taxes and social security of staff also not being adequately paid.

The Wednesday operation was carried out together by the police, the National Revenue Agency and the Prosecutor's Office.

The company targeted is alleged to have been hiding revenue by deleting data from its cash machines, for which it had hired a maintenance company.

Breaches have also been determined in the supply of the clubs with alcohol and other consumables.

A number of hard disks and other equipment have been confiscated for further investigations.

Four people have already been charged in connection with the case.

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Tags: National Revenue Agency, police, Prosecutor's Office, tax evasion, revenue, turnover, night club


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