Bulgaria Announces Merger of Customs and Revenue Agencies

Business » FINANCE | February 20, 2024, Tuesday // 11:01
Bulgaria: Bulgaria Announces Merger of Customs and Revenue Agencies

The Bulgarian Ministry of Finance has unveiled plans to consolidate the National Revenue Agency and the Customs Agency into a single entity, marking a significant step towards streamlining financial operations in the country.

Drawing inspiration from several EU member states such as Denmark, Estonia, and Spain, which have successfully implemented similar unified structures, Bulgaria aims to enhance efficiency and effectiveness in revenue collection and financial oversight.

Minister of Finance Asen Vassilev has initiated the restructuring process, appointing Pavel Tonev, former director of the Customs Agency, as his advisor to spearhead the creation of the unified agency. Additionally, Petya Bankova, previously serving as deputy executive director, has been appointed as the Director of Customs.

Alongside the merger, leadership changes are also underway at the Agency for State Financial Inspection, with Ilka Dimova assuming the role of director. Stefan Belchev, the former director, will transition back to the Ministry of Finance.

The overarching objective of these structural adjustments is to optimize operations and align financial inspection processes with the highest European standards. By adopting best practices from across the EU, Bulgaria seeks to bolster its fiscal management mechanisms and enhance transparency and accountability in revenue collection and oversight.

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Tags: Bulgaria, Ministry of Finance, Revenue Agency, Customs Agency

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