Bulgaria to Adopt Romanian Model for Curbing VAT Fraud

Finance | June 19, 2013, Wednesday // 17:39|  views

Finance Minister Petar Chobanov, photo by BGNES

The Bulgarian Finance Ministry is ready to propose soon a method for preventing VAT fraud applied successfully in Romania, according to Finance Minister Petar Chobanov.

Chobanov presented Wednesday in Parliament a set of measures of the government aiming to achieve a social and economic stabilization of the country.

Bulgaria's Finance Minister, as cited by dnevnik.bg, made clear that the proposal had already been discussed with business representatives, adding that the scope of goods to be subject to this type of specialized control, the persons to whom it would apply, and the bodies which would be tasked with exercising it were yet to be specified.

Chobanov also vowed measures against smuggling.

During Wednesday's discussion in Parliament, the Bulgarian Socialist Party, BSP, and the center-right party Citizens for European Development of Bulgaria, GERB, stressed that VAT fraud and smuggling called for urgent action.

Chobanov also cited a forecast of the National Revenue Agency about a BGN 1 B gap in the revenue target for 2013 due to poor planning.

He also informed that public administration bodies had requested an extra BGN 800 M to cover unforeseen expenses and overdue debts by end-April.

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Tags: Petar Chobanov, finance minister, VAT fraud, smuggling, GERB, BSP, Bulgarian Socialist Party, center-right party, Citizens for European Development of Bulgaria


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