Bulgaria Agri Min Suspects VAT Fraud in Grain Trade

Bulgarian National Revenue Agency officers are inspecting a number of deals with grain, informed Bulgarian Minister of Agriculture Miroslav Naydenov.

Speaking in an interview for bTV Tuesday, Naydenov said that it is according to him very likely that a number of schemes of VAT draining will be unearthed.

He recalled that recently anumber of such schemes were discovered in trade with sugar in Bulgaria.

The sugar affair even involved arresting and charging famous Bulgarian businessman Grisha Ganchev, owner of the Litex consortium.

Six other persons were detained, including Ganchev's son, who were claimed to have hidden due taxes amounting to some BGN 200,000.

"In the grain trade there is a large draning of VAT using fictious export and fictitious bills. Were are even considering alterint the tax regime to curb that," said Naydenov.

The idea is for the VAT to be paid to the state budget by the buyer, not by the seller.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!