Bulgaria's Finance Ministry and Prosecution agreed to fight tax fraud together.

Finance Minister Plamen Oresharski and Prosecutor-General Boris Velchev signed an agreement for co-operation in cases of financial and taxation crimes, Focus news agency reported.

A co-ordination council for the joint work of the two institutions will be established.

Joint instruction and qualification events would be organised for the staff of the two institutions, Focus said.

Oresharski said that Bulgaria was among the countries that ranked first in VAT collection. Still, tax fraud prevention measures were needed and the Finance Ministry would count a lot on the Prosecution's help, he said.

Velchev said that the two institutions would sign another co-operation agreement with the Commission for Protection of Competition (CPC).