[size=75:2a7in07x]Sofia echo 12 April 2010

Bulgarian National Revenue Agency targets rental income

The National Revenue Agency (NRA) has called for the public to remain vigilant and inform the authorities of people who collect rental income but fail to declare it accordingly, Bulgarian Dnevnik daily reported on April 12 2010.

This usually pertains to tenants who rent properties without a contract being issued, with the owners offering them a deal under the table.

NRA have provided a phone and an email address, which are valid for both private or corporate lending, the article says.

According to the report, the failure to declare rental income in Bulgaria remains a major problem, contributing substantially to the country's so called grey economy.

All rented property should be accompanied by a contract, but in many cases the owners either fail to disclose it, or declare substantially lower rents in order to pay less taxes. NRA urge the public to inform them, along with a copy of the rental contract and their names, – although they "
guarantee full confidentiality"
.

All rental income, according to NRA, must be declared by the end of April.

For further information, contact NRA at 0700 18 700