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Bulgarian Customs Head: Lukoil Has Tax Problems, Gets Better
BULGARIAN CUSTOMS HEAD: LUKOIL HAS TAX PROBLEMS, GETS BETTER
Date: 21/08/2011
Source: novinite.com
Bulgarian Customs Head: Lukoil Has Tax Problems, Gets Better

Lukoil Bulgaria has been chronically failing to adequately pay its taxes, according to Bulgarian Customs Agency head Vanyo Tanov.

Recently a controversy developed in Bulgaria, after Tanov ordered a retraction of operation licenses of Lukoil Neftochim - the country's largest refinery - on the grounds it did not adequately disclose the amounts of fuel it is selling.

Lukoil appealed and the courts gave it back the right to operate, on the grounds that if it stopped that would cause a disruption in Bulgaria's fuel market and overall economy.

"In this whole process we learned how much our economy is dependent on Lukoil and we need to think about that," said Tanov Sunday in an interview for the Bulgarian National Radio.

"In terms of taxes over recent years, Lukoil has been the debtor and Bulgarian taxpayers the creditors," quipped the customs chief.

He confirmed that Lukoil Neftochim had already installed 30% of the legally required fuel measurement units at its facilities and that until October 80% of those are planned to be ready.

"After they had their license retracted, Lukoil made big efforts to catch up and to meet the requirements within a year," said Tanov.

He assured that the Customs Agency will be keeping track of the process to ensure that Lukoil abides by the regulatory requirements in a reasonable amount of time.


Topic: Economy



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The biggest city at the Bulgarian Black Sea coast, Varna is situated 470 km east of Sofia. In the course of more than 7 millennia, the Gulf of Varna has been the cradle of several significant civilizations - humankind's oldest gold was excavated in Varna, created by people who inhabited that place around the 4th millennium BC and long before the Thracians, Greeks, Bulgarians and Turks.

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