Revenue Agency Collected over 3 mln BGN of Arreas from Traders in Liquid Fuels

Business » FINANCE | September 28, 2017, Thursday // 09:15| Views: | Comments: 0
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Bulgaria: Revenue Agency Collected over 3 mln BGN of Arreas from Traders in Liquid Fuels pixabay.com

National Revenue Agency (NRA) collected more than BGN 3 million of outstanding debts after it introduced permanent monitoring on the liabilities of traders in liquid fuels and owners of licensed excise warehouses. The measure envisages continuous tracing of the liabilities and direct telephone contact if traders and warehouse keepers fail to pay their taxes, social security contributions and customs and excise duties on time to the budget, NRA announced on 27th of September as quoted by BGNES.

82 excise warehouse keepers were subject to this special monitoring in August 2017. As a result, 32 of them cleared debts to the amount of 800,000 BGN and 32 paid their debts partially or secured them. The NRA has notified the Customs Agency about an incompliant warehouse keeper, whose license should be withdrawn. Notifications will be sent about 12 more excise warehouse keepers because they have not taken any action to pay their debts.

Since October 2016, speical monitoring has been applied to 91 traders in liquid fuels who have VAT debts. They have been listed in a special register and are obliged to make payments under the Law on Value Added Tax. The total number of traders on the register exceed 500. The current results from the monitoring show that from October 2016 to August 2017, following calls from the NRA, these 91 traders paid 2 million BGN of outstanding liabilities to the budget.

NRA highlights that the measure of continuous monitoring of traders from the two sectors has both a fiscal and a disciplining effect. Observations show that businesses usually adjust their behaviour once they have been placed under monitoring by the revenue administration.

source: BGNES, The Bulgarian National Television

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