{"id":24600,"date":"2020-11-23T13:31:11","date_gmt":"2020-11-23T12:31:11","guid":{"rendered":"https:\/\/bird.bg\/nra-wrote-off-3-billion-of-debts-of-companies-in-october\/"},"modified":"2023-04-06T18:06:06","modified_gmt":"2023-04-06T16:06:06","slug":"nra-wrote-off-3-billion-of-debts-of-companies-in-october","status":"publish","type":"post","link":"https:\/\/bird.bg\/en\/nra-wrote-off-3-billion-of-debts-of-companies-in-october\/","title":{"rendered":"NRA wrote off 3 billion of debts of companies in October"},"content":{"rendered":"

Nearly BGN 3 billion of corporate debts were written off by the National Revenue Agency in October this year. This can be seen by comparing the public lists of<\/a> debtors published by the agency for September and October this year. In one month, 972 companies were deleted as debtors. Fisk is no longer looking for<\/a> the whole BGN 2 956 799 345,43. Data for several consecutive months have been processed by the BRRD team and are available in a public search engine<\/a>. Beneficiaries of coronasubsidies and EU funds are found among the debtor companies.<\/p>\n

Of this amount, BGN 2.7 billion belong to 771 companies that do not have assets<\/a> on which the NRA has imposed collateral. This means that the money is simply written off as uncollectible. It is not known whether the remaining 216 million<\/a> are also uncollectible or have been collected from the realisation of collateral, which would be a great success. However, the fact that the NRA does not boast of a breakthrough in debt collection is telling.<\/p>\n

The massive debt write-off was expected, but it is a mystery why it is happening now in October. In 2019, an audit of the Court of Auditors quoted by the newspaper.<\/a> It is now<\/a> understood that the agency is set to wipe out \u00a320 billion of debts accrued from concealed or undeclared liabilities identified in audits and categorised as difficult- or uncollectible. This includes deleted traders, companies transferred to clowns, etc. without property and assets.<\/p>\n

Over half of the written-off receivables were charged interest for late payment. The monthly interest for unpaid debts is about 1% of the accumulated amount due.<\/p>\n

In 2018, the civic association BOETC revealed that the collected and siphoned VAT exceeded 16 billion levs and submitted signals to the prosecutor’s office and OLAF.<\/p>\n

The evidence suggests that this is now a campaign write-off. A 2016 statutory amendment allows debts to be extinguished ex officio by prescription after 10 years. It is not clear why this happened in October and not at the end of the year or at the end of each month. The report on the NRA debts from the last few months shows that they have been increasing smoothly from May to September.<\/p>\n