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Finance Minister Kiril Ananiev
They abandon the idea of lowering the tax if it is announced how much it is paid for home repairs
A fine of BGN 15,000 is foreseen for hidden income abroad through amendments to the Code of Tax Procedure and Social Security (TSPC), presented to Parliament. In the event of non-payment or a lower amount in accordance with the Personal Income Tax Law or the Personal Income Tax Law, the fine will be up to 5 percent of the non-tax amount. paid, but not more than BGN 15,000.
In case of repeated violation, the sanction is doubled by 10 per cent, but not more than BGN 30,000.
If an inspection by the tax agency or a public contractor is prevented, violators expect them to be twice as high as current fines: from BGN 500 to BGN 1,000 for individuals, and a property penalty for individual merchants and legal entities. In the case of repeated violation, the penalty is a fine or property sanction of 1,000 to 2,000 BGN.
The reimbursement of public accounts receivable presented for collection to the NRA will be carried out from the oldest to the newest, foresee new changes in the TSSPC. For the moment, individuals or companies have the right to choose which obligation to repay first. The change is necessary because in this way there is a risk that part of the debts remains uncollected due to the expiration of the statute of limitations, according to the Ministry of Finance.
However, Kiril Ananiev’s experts have given up on the idea of granting tax breaks if it is announced to the National Revenue Agency how much owners are paid to repair a house. Initially, when the changes were published for public discussion, the tax base was expected to be reduced by up to 2,000 BGN if this information was provided to the tax agency.
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