Major Migrant Trafficking Ring Dismantled in Bulgaria
Interior Minister Kalin Stoyanov disclosed to reporters in Burgas that a highly active criminal group engaged in migrant trafficking has been dismantled
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
VAT fraud drains an average BGN 700 M from the state budget per year through schemes involving around 30 000 companies out of a total of 250 000 VAT-registered firms.
The data was presented on Tuesday by Hristo Yordanov, head of the Financial-Credit System unit at the Economic Police Department of the Criminal Police Chief Directorate of the Interior Ministry, as cited by 24 Hours daily.
The most popular scheme involves registering companies for VAT on behalf of poor or illiterate people or representatives of the minorities who then authorize other persons to carry out the fraudulent business operations.
VAT fraud schemes tend to get increasingly complex through the introduction of more and more intermediate levels through the so-called missing-trader companies and buffer companies.
The fraudsters mix real and dummy operations amid a superior organization of many persons and commercial entities, including ones registered in offshore zones.
In Yordanov's words, such crimes are invariably assisted by economists, legal experts and bank officials, whose professional qualifications and social status obstruct the investigation of the tax evasion schemes.
VAT fraud is most common in trade in crops, sugar, scrap metal, services, meat and dairy products and building materials.
According to the National Revenue Agency (NRA), the gravest instances of VAT crime are committed by companies specialized in crops and fuel trade or ones operating in the construction and services sectors.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Ivana, a 17-year-old from Dupnitsa, has been missing for over a month now, vanishing on February 22 after leaving school without her phone
Reports from Italian authorities detail a horrifying ordeal where victims were subjected to physical violence and coercion, painting a grim picture of human trafficking and exploitation
170 kilograms of cocaine were found concealed within a shipment of bananas at the Burgas city's port
In a recent operation organized by The Directorate-General for Border Police, a significant development unfolded late on March 23 at the Gyueshevo border crossing
At the Old Bailey court, five out of the six Bulgarians accused of espionage in the United Kingdom pleaded not guilty to charges of participating in a spy network allegedly operating on behalf of Russia
A recent report by UNICEF has uncovered distressing levels of violence inflicted upon children in Bulgaria
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022