550 companies in Sofia "forget" to register under the VAT Act

A total of 550 companies in the capital city have not fulfilled their obligation to register under the VAT Act, the National Revenue Agency (NRA) announced. The data come from the analysis of the annual declarations of 1,800 companies serviced by NRA Sofia with no VAT registration.

The selected 550 companies indicated in their annual declarations for 2011 a turnover exceeding BGN 50,000, but they have not taken actions to register under the VAT Act.

After inspecting the companies, the State Revenue Agency proceeds to their official registration. Inspectors from Sofia have registered officially 93 of the already inspected companies. Statements have been drawn against them for the infringements found. In such cases, the law provides a penalty ranging from BGN 500 to 5,000, depending on the delay. In addition, the companies will undergo revisions to establish the VAT amount due which is, however, uncalculated and unpaid, plus the interest for the period.

From the beginning of the year until the end of September, sanctions were imposed on 199 companies which have not fulfilled their obligation to register under the VAT Act within the deadline. These number 251 for the entire 2011.

In the first nine months of 2012, 2,555 de-registrations (write-offs) under the VAT Act were made in NRA Sofia, initiated by the revenue authorities, which constitutes 45% of all de-registrations in the country, NRA noted.

After the termination of their registration under VAT, individuals are not allowed to charge VAT and use tax credit. This measure applies mote often to companies which do not respect the law or are involved in VAT draining schemes. Thus, by de-registration the chain of companies trying to defraud the revenue is broken, NRA added.

Прочети цялата новина

Свързани новини: