BULGARIAN SHIP CAUGHT AGAIN SMUGGLING DIESEL FUEL

Business | June 27, 2001, Wednesday // 00:00

The Hristo Botev boat was caught in an attempt to smuggle diesel fuel for the fourth time this year. The motorboat was impounded at the Vidin port. Customs officers found that it carried illegally 30 t of diesel fuel. The captain and the owner, Bulkat 98, will be held liable for customs violations. Knowledgeable sources explain that the vessel is first tanked with diesel fuel for international shipping on the Danube, i.e. no excise duty and VAT are paid making the fuel twice as cheaper as that available on the domestic market. The ship funnels the fuel onto a truck and it goes to the domestic market. The savings from the unpaid VAT and excise duty and the subsequent sale add up to a net profit between 150% and 200% of the fuel`s original price.

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