A quarter of actual sales in Bulgaria concealed

A quarter of the actual sales in our country are being concealed, showed a survey of the Bulgarian Industrial Capital Association (BICA). According to employers from 11 sectors, the Treasury receives taxes for three-quarters of the sales made. Experts from the Association have established that the grey sector of the national economy has shrunk by 5.4% over the last two years. According to the survey, the informal economy accounted for 42.2% in 2010 and its scope has now decreased to 36.8%.

According to Boyko Nedyalkov, Vice Chairman of BICA’s BoD, the level of grey practices in various sectors has changed. While in 2010, construction, tourism and health care were the sectors with the highest level of grey practices, now the branches of electrical engineering and electronics, perfumery, cosmetics and the printing industry are those with the most frequent violations. According to the survey of the association, these sectors are with the highest indices of concealing profits, not issuing invoices for deals, contraband imports and exports, and non-payment of the full amount of social and health insurance instalments. In 2012, cases of working without a labour contract decreased, compared to 2010. While two years ago, these were about 29%, their relative share has now dropped to 22.2%.

BICA commented that the introduced measure of connecting cash registers with the information system of the National Revenue Agency (NRA) has given the first visible results – turnovers have been brought to light. Increased collection of VAT is another stable trend. Two years ago, according to 18% of company owners, VAT evasion was a very rare phenomenon, while this year, this position is shared by 47% of them.

BICA’s survey has established another positive trend as well – a decrease in the level of evasion of taxes, excise and customs duties.

Alongside, over the last two years, the share of employers evaluating the preference for cash payments as a common phenomenon in the Bulgarian economic live has dropped threefold (from 31.2% to 14.8%).

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