Bulgaria: Authorities Caution Against Fraud Risks Ahead of Euro Adoption
The General Directorate of the National Police has issued warnings about potential fraud as Bulgaria prepares to introduce the euro.
Sofia Photo Agency
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.
Bansko has been named the most affordable ski destination in Europe, according to the latest EasyJet index, which evaluates costs including lift passes, equipment rental, accommodation
Austrian companies operating in Bulgaria continue to view corruption as one of the country’s most significant economic challenges, alongside crime, bureaucracy, underdeveloped infrastructure, and political instability
A new version of Slotozilla for Bulgarian gamblers is being launched to spread trust across the country.
A hotel in the Borovets ski resort has provoked criticism after charging 5 euros (approximately 9.80 BGN) for the use of its toilet facilities
Bulgaria is entering a new phase in its housing market, with analysts predicting the end of the “panic” buying that fueled double-digit price increases in 2024 and 2025.
Bulgaria’s shift to the euro at the start of 2026 has changed more than price tags.
Bulgaria's Strategic Role in the EU's Drone Wall Defense Initiative
When Politics Means Violence