Companies Owe BGN 1.8 B to Revenue Agency

Companies Owe BGN 1.8 B to Revenue Agency

Bulgarian companies owe BGN 1.8 B to the National Revenue Agency, Finance Minister, Simeon Dyankov, has announced.

Dyankov said Saturday that this year BGN 1,360 B have been cleared as obligations to the central budget, that have been accumulated in the previous years.

According to him, however, the clearing had not affected the level of inter-company debt, which remains high.

The minister has stated that the Finance Ministry had proposed amendments to the Tax-Insurance Procedure Code, which are to be voted on second reading at the parliament.

According to the amendments, companies will not be able to change their owners if they have large debts. In a 60-day period, the National Revenue Agency (NRA) should make an analysis of the company's indebtedness and it if it turns out excessive, the company would not be allowed to change its owner.

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