site.btaNRA: Luxury Car Owners Owe Over Lv 1,000,000 in Additional Taxes

NRA: Luxury Car Owners Owe Over Lv 1,000,000 in Additional Taxes

Sofia, July 11 (BTA) - Tax inspectors have completed 31 audits on the income of luxury car owners so far, establishing additional obligations of 1.1 million leva, the National Revenue Agency (NRA) reported.

A total of 148 audits have been assigned as of now, while 1,800 checks on owners of expensive cars have been conducted since the end of last year. Twenty-one of the inspected owners have corrected their tax return forms, thus declaring their true income, as established by the tax inspectors during the checks.

The NRA's Plovdiv Directorate has established the most additional taxes owed. The nine audits completed so far have resulted in 350,000 leva of additional taxes calculated for the owners of expensive vehicles, with just one of them owing 252,000 leva. The eleven audits completed by the NRA in Sofia have established 326,000 of additional taxes owed.

When conducting audits and checks for property and income compliance, the tax inspectors assess the household's total available property, including real estate property in Bulgaria and abroad, vehicles, bank deposits, cost of living, vacations abroad. Spending is compared to the officially declared income levels. If the property exceeds income, the undeclared difference is taxed for the last five years, interest included, and if there is information about tax and social insurance crimes, the NRA alerts the prosecuting magistracy, the Agency said.