Bulgaria: Stations to Report Real-time Data to Tax Agency
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Friday, 25 November 2011 |
All fuel service stations in Bulgaria have been ordered to install automated electronic systems that report volumes of fuel sold to the country’s National Revenue Agency (NRA). The new systems, which must be installed by the end of March 2012, build on existing rules that oblige stations to report turnover electronically to the NRA since the beginning of 2011.
269 sites have already closed for not complying with the regulations, but the initiative has largely been successful. The NRA reported that the declared turnovers of fuel service stations increased by BGN24m despite an overall drop in fuel consumption nationwide.
The electronic systems that currently report turnover will be equipped with level gauges that monitor fuel volumes passing through fuel dispensers and quantities stored at reservoirs in real time. Failing to install the new systems will result in fines of up to BGN10,000 or forced closure.
PetrolWorld 25112011
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