Bulgaria Revenue Agency Software Identifies VAT Fraudsters

Business » FINANCE | August 30, 2009, Sunday // 17:35| Views: | Comments: 0
Bulgaria Revenue Agency Software Identifies VAT Fraudsters: Bulgaria Revenue Agency Software Identifies VAT Fraudsters NRA Director, Krasimir Stefanov, is said to be pleased with the new software. Photo by Sofia Photo Agency

The Bulgarian National Revenue Agency (NRA) has introduced a new electronic system to uncover V.A.T fraud, the agencies press center informed Sunday.

The new software has been introduced to target risk criteria that identify a firm's recent tax data and identifies small changes in V.A.T returns over a long period of time, therefore allowing tax authorities to investigate.

The software, which was bought using funds from the FAR program, will automatically select companies that should be investigated and will also help to cut out the corruption that has tainted the agency over recent years.

In July, the amount of VAT that was not returned after tax inspectors' check-ups decreased by more than BGN 105 M, NRA explained.

 

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Tags: National Revenue Agency, software, V.A.T fraud
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