More than BGN 2 billion and 700 million of value added tax have been reimbursed to businesses after an automated assessment by the National Revenue Agency (NRA), the institution announced.

The procedure does not require inspection or revision if the company requesting a tax refund has a low risk profile, has no budget liabilities, pays taxes and insurances regularly and on time, and has no evidence of participation in VAT fraud schemes.

In the same order, since the implementation of the system so far, over 256 million corporate tax and almost 61 million income tax have been refunded to correct companies and individuals.

At the same time, the specialized software of the National Revenue Agency directs the attention of the tax authorities to problem areas and risk areas and allows the performance of electronic audits. They exclude the need to copy a large volume of documents on paper, as accounting data are checked and analyzed remotely, and this greatly facilitates business, commented the NRA.

Date: 11.10.2021

Source: National Revenue Agency

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