site.btaCompany Managers to Pay 56 Million Leva in Solidary Liability for Tax Obligations

Company Managers to Pay  56 Million Leva in Solidary Liability for Tax Obligations

Sofia, July 13 (BTA) - Forty-eight managers of companies and other members of management bodies are required to pay a total of 56 million leva from their pockets for tax and social security contributions owed by the businesses they manage or have managed, according to a report of the National Revenue Agency on inspections for solidary liability conducted in the first half of the year.

According to the tax and social security legislation, company managers and members of management bodies are solidarily liable for the obligations of the company occurring as a result of non-submittal of tax or social security returns.

A similar provision is contained in the VAT Act concerning unpaid VAT. Ninety-three inspections for VAT obligations have been conducted since the start of the year, which established liability for VAT obligations of third parties worth 14.6 million leva.