Tue, Feb 09 2010

National Revenue Agency to probe artists' income and tax returns

Mon, Nov 30 2009 16:04 CET byNick Iliev 962 Views 2 Comments
National Revenue Agency to probe artists' income and tax returns

Photo: Georgi Kozhuharov

The National Revenue Agency (NRA) is investigating the tax returns of some of Bulgaria's most famous folk, pop and rock artists to root out any possible tax evasion, the Bulgarian News Agency (BTA) reported on November 30 2009.

The operation follows a tip-off to authorities that most artists were hiding a substantial portion of their income.

Sixteen of Bulgaria's most prominent artists will have their tax returns over the past five years examined. Allegedly, one of Bulgaria's most prominent chalga stars had declared her total income last year to be 86 000 leva. Yet the performer in question is said to earn 6 500 leva for a single concert.

Income, assets, real estate and luxury cars belonging to the singers and their families will be scrutinised to determine their actual value and origin.

NRA officers will then determine if there is a discrepancy between the income declared by the singers in question and their actual assets. Should irregularities be revealed, the stars could face having the value of their property and luxury items revised. They may then be fined and re-taxed according to the true value of their assets. More importantly, if it was revealed that tax evasion was conducted at particularly "gross levels", they may even face up to eight years' imprisonment.

Comments

Anonymous peter Tue, Dec 01 2009 14:03 CET
Inappropriate comment?

Yeh slap the ex pm's in jail for 8 years if you dare (which I doubt!!!)

Anonymous IVAN Tue, Dec 01 2009 14:02 CET
Inappropriate comment?

Go after the corrupt politicians doctors, town engineers first then look at these people Start with the 2 former prime ministers and their cronies

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