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Panama Papers: Bulgarian authorities are checking 150 local connections

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Panama Papers: Bulgarian authorities are checking 150 local connections

Bulgaria's National Revenue Agency is checking the Bulgarian citizens and companies that are involved in the recent offshore Panama Papers scandal. NRA has already contacted representatives of the International Consortium of Investigative Journalists (ICIJ) and requested information about the offshore companies with the participation of Bulgarian citizens and companies registered in the Bahamas, Seychelles, Anttila, Panama, Niue and the British Virgin Islands.

ICIJ in turn has promised that all information about Bulgarian nationals will be provided to the NRA.

By itself, offshore company registration is not a violation of the law, but is an indicator that this may be an attempt to conceal taxes.

After receiving the list of Bulgarian citizens related to offshore companies, NRA will check their official incomes presupposing the existence of accounts of companies abroad. Then the companies associated with offshore links may become subjects of revisions to establish whether they are evading taxes.

At least 150 Bulgarians and 50 of native companies are associated with offshore registrations exotic islands. Our affected compatriots are mostly directors, agents, lawyers or company liquidators. The scandalous show data from the international journalistic investigation "Panama Papers" is revealing that rich people from Sofia, Plovdiv, Bansko, Pleven, Stara Zagora, Varna, Sevlievo, Pravets, Montana, Sozopol, Panagyurishte, Ruse and Gabrovo have offshore companies.

At this stage it is not clear whether political figures are involved - neither current nor past leaders.

Among the owners of offshore companies, there are also many foreigners who are living in Bulgaria or have Bulgarian passports. Most of them are Serbs, Macedonians, Ukrainians and Russians.

The global international investigation checked 11.5 million documents and revealed 214,488 companies in 21 offshore zones by clients from 204 countries.

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