site.btaJune 2016 Tax and Non-Tax Revenue in Budget Collected by Specialized Agencies Up by Lv 1.4 Bln Y/Y

June 2016 Tax and Non-Tax Revenue in Budget Collected by Specialized Agencies Up by Lv 1.4 Bln Y/Y

Sofia, July 15 (BTA) - Speaking during Question Time in Parliament on Friday, Finance Minister Vladislav Goranov said that in 2015, the revenue administration collected by 1.820 billion leva more compared to 2014, which is a nominal increase of 7.9 per cent. As at June 2016, the tax and non-tax revenue collected by specialized agencies were by 1.4 billion leva more compared to the like period of 2015, he noted.

Goranov was replying to a question by Yavor Haytov MP of the Bulgarian Democratic Centre about the Finance Ministry's measures against VAT fraud.

The Finance Minister recalled that for three years his ministry has undertaken many legislative measures against VAT fraud, such as the introduction of a mechanism for back calculation of VAT in deals on grain, with a a net effect of 207 million leva in 2014 and around 200 million leva in 2015 and 2016. The Finance Ministry also improved the fiscal control over goods of high fiscal risk, and introduced strict control over the trade in liquid fuels, Goranov added.

The direct effect of improving the regime of VAT on company goods for personal use is 5.2 million leva, but the VAT collectability has also improved, he noted.

In Goranov's words, the instructions of the National Revenue Agency made many people understand that the registration of a company for VAT does not equal a 20 per cent cheaper purchase of goods for personal use. "We are also observing a mass transfer of assets from companies to their actual owners - natural persons," he added.