Bulgarian Authorities Bust Major Tax Fraud Ring in Luxury Car Imports

Crime | November 20, 2023, Monday // 14:05
Bulgaria: Bulgarian Authorities Bust Major Tax Fraud Ring in Luxury Car Imports

Bulgarian authorities have uncovered and dismantled a significant criminal network involved in large-scale tax fraud linked to the importation of luxury vehicles. The National Investigation Service disclosed that this scheme led to more than BGN 6 million in losses to the state budget just within the past year, during a briefing on November 20.

The operation, spearheaded by the Prosecutor's Office and conducted in collaboration with the Ministry of Interior and the National Revenue Agency (NRA), spanned multiple cities including Sofia, Varna, Plovdiv, Burgas, Kostinbrod, and Troyan.

A series of coordinated raids at 30 locations, including 14 accounting firms, resulted in the seizure of substantial documentation, computer equipment, significant data, and numerous electronic signatures.

Investigators revealed that the fraudulent scheme primarily involved the evasion of Value-Added Tax (VAT). The unlawful activity amounted to an unregulated turnover of BGN 30 million, where VAT should have been levied but was intentionally omitted. The modus operandi relied on a network of "shell" companies fraudulently claiming tax credits under the VAT Act without any legitimate grounds.

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Tags: Bulgarian, tax, Luxury car, investigation

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