Send to Kindle
Bulgaria’s Revenue Agency Head, Krasimir Stefanov, says tax evasion at the country’s summer resorts is an outrage. Photo by BGNES
The mass tax probes of the Bulgarian National Revenue Agency (NRA) on the entire Black Sea coast during the last two weekends have uncovered hidden turnover of BGN 1.5 M, the NRA Director, Krasimir Stefanov says.
The concealed Value Added Tax (VAT) from this turnover is BGN 300 000.
Over the past weekend revenue agents did checks on a number of night clubs, six of them in the Black Sea capital Varna and several on the southern Black Sea coast, where one club was found to not have declared a single penny. Overall, the establishments on the northern Black Sea coast showed better tax discipline than those in the south, according to Stefanov.
The NRA Director pointed out again the main scams used by owners involve not accounting for profits at all, tempering with cash registers, not paying employees’ benefits, changing official ownership each season in order to avoid old financial obligations.
Stefanov reiterated NRA will continue to monitor all merchants throughout the entire summer season while the owners of the largest night clubs will be audited and some will be taxed for years back based on information collected this season.
An inspection by Bulgaria’s National Revenue Agency (NRA) has found that prices for essential food items - the so-called “small consumer basket” - have risen significantly
If traders attempt to unjustifiably raise prices during the transition to the euro, the National Revenue Agency (NRA) will detect it through discrepancies in VAT declarations
From June 1, 2025, Bulgaria will fully transition to electronic employment record books
The National Revenue Agency (NRA) recently reported that violations were found in one-third of the commercial establishments inspected in Bulgaria’s mountain resorts
The National Revenue Agency (NRA) in Bulgaria reminds individuals earning income outside of employment contracts to submit their tax declarations and settle any owed taxes by April 30
During recent inspections in Bulgaria's winter resorts, tax authorities uncovered several establishments failing to issue proper sales receipts
Inflation in Bulgaria recorded a slight uptick in May 2025
Bulgaria has secured an additional 300 million leva in debt from the domestic market, according to the results of the latest government securities auction held by the Bulgarian National Bank (BNB)
In April 2025, Bulgaria recorded a current account deficit of 724.9 million euros, marking the largest monthly shortfall since January 2022
With Bulgaria set to adopt the euro on January 1, 2026, questions are surfacing about whether the country might face financial risks similar to those that led to Greece’s debt crisis
The introduction of dual pricing in leva and euro is progressing smoothly and, in some cases, even ahead of the planned timeline in Bulgaria
Annual inflation in Bulgaria accelerated slightly in May, reaching 3.7%
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe
