The Trade through Facebook Will Be Controlled by the NRA

Business | November 22, 2019, Friday // 16:08| Views: | Comments: 0
Bulgaria: The Trade through Facebook Will Be Controlled by the NRA

The National Revenue Agency is tightening its grip on commerce through social networks like Facebook and shopping sites.

"More than BGN 300 million are the hidden revenues from this type of trading," the head of the Communications Directorate of the National Revenue Agency, Rosen Bachvarov, said at seminar in Veliko Turnovo about changes in the H-18 Regulation on cash registers.

Facebook has a special section called Marketplace, which has thousands of ads for clothes, shoes, even cars and apartments. In addition, there are separate special sales groups that are made for this purpose only - to sell goods - most traders there do not have businesses - they sell as individuals. This is a problem that the taxpayers have focused on - to collect revenues in the treasury from trading on social networks.

"The fiscal problem of e-commerce and online commerce is measured by huge annual losses. A software system that meets the requirements of tax law must be built. Those who do not accept cash payments and use postal money transfers as an opportunity can continue to report their turnover as before, ”said Rosen Buchvarov.

According to Bachvarov, accountants and merchants still have ambiguities that are mainly related to e-commerce. Some have expressed the opinion that "they will be returned in the 19th century" if they cannot write invoices electronically and have to do it by hand. 

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