Send to KindleFinance Minister Simeon Djankov has announced that an operation aimed at uncovering VAT fraud by companies in the sugar business is underway.
Djankov told journalists Thursday that the operation targeted a notorious large-scale businessman from northern Bulgaria and vowed be arrests by the end of the day.
"Back in 2002-2003, there were reports by the National Revenue Agency (NRA) and a number of security structures showing that the state was being drained of VAT amounting to BGN 140-200 M each year through companies in the sugar business," the Finance Minister specified.
He went on to say that he had asked the respective NRA directorates two years ago to stop reading and writing reports but to approach the matter with the support of a range of other state bodies governed by Interior Minister Tsvetan Tsvetanov.
"I can confirm that two years of analytical activity yielded a concrete result this morning. I can only say that the case involves over 20 related firms. It is about a notorious large-scale Bulgarian businessman. Judging by the NRA's initial estimates, this will either eliminate or substantially reduce VAT fraud in the sector," Djankov noted.
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