March 2 – Six clubs from Bulgaria elite division, efbet Liga, have combined debts due to the National Revenue Agency (NRA) of BGN 14.5 million (€7.25 million). The news was part of a naming and shaming announced by the NRA through Bulgarian National Television.

The NRA said that the collective amount owed was made up multiple unpaid payments including VAT, Corporate Income Tax Act violations, and unpaid personal income taxes.

The club holding the largest debt is Levski with BGN 11.5 million. (€5.75 million). In revealing the amount owed, executive director Ivaylo Ivkov said the club had not yet reached an agreement on deferred payment with the NRA, but the agency has already taken control of Levski’s accounts and will collect 30% of all revenues generated by the club.

The remaining BGN 3 million (€1.5 million) is owed by five clubs – CSKA Sofia, Lokomotiv Plovdiv, Arda Kardjali, Botev Vratsa and Pirin Blagoevgrad. One unnamed club has already made a commitment to pay all its debt by the end of March.

Velislav Elezov, executive director of Pirin Blagoevgrad, said the club had debt of BGN 200,000 (€100 000) but explained that 70-80% of this would be repaid by the end of next week

Botev Vratsa also said that they have a debt repayment plan in place with the National Revenue Agency that will see the debt cleared by the end of the year.

Lokomotiv Plovdiv and Arda have not commented so far. The former owner of Lokomotiv Plovdiv, Hristo Krusharski, announced on his departure that he had paid off BGN 5.5 million (€ 2.5 million) of debt and left the club with liabilities of about BGN 500,000 (€250 000).

The professional club licensing rules of the Bulgarian Football Union stipulate that clubs cannot build up outstanding debt to the National Revenue Agency or must have a repayment plan in pace with the agency.

Levski are convinced that, despite the debt owed, the NRA will assist in issuing the necessary documentation to help the club meet the BFU’s licensing criteria.

Contact the writer of this story, Aleksander Krassimirov, at moc.l1677773337labto1677773337ofdlr1677773337owedi1677773337[email protected]1677773337fni1677773337

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