Tax revenue losses to VAT fraud in Bulgaria

The Bulgarian National Revenue Agency stated that the country losses up to $500 Million (750 Million Bulgarian Lev) a year to value added tax (VAT) fraud.

Between 2005 and 2009, an estimated $2.2 Billion (3 Billion Bulgarian Lev) in VAT revenue was lost within Bulgaria.

Most of the tax revenue fraud was in the wholesale trade in oil and grains.

Source: “VAT fraud costing Bulgaria billions,”Organized Crime and Corruption Reporting Project (OCCRP), August 10, 2011.