MONEY Wednesday, 9 October 2002 


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BG Government Sentenced To Pay 1,000-Lev Fine

The cabinet will approve the amendments to the tax acts for 2003 tomorrow

The Supreme Administrative Court (SAC) sentenced the government to pay 1,000 levs to 8 superannuation companies. The yesterday's SAC decision abolished part of the National Accounting Standards' texts referring to the pension annuity funds and companies, which have been already adopted by the ministers. The Council of Ministers' decree was promulgated in the State Gazette on February 27, 2002. SAC decided that the pension companies should not be responsible for non-profitable investments when the guilt doesn't lie with them. The cabinet should pay 1,000 levs to the claimants for the court proceedings. The SAC resolution is peremptory and will be effective from the day of it's promulgation in the State Gazette. The extra charge of 5 levs per sq. m levied on traders and craftsmen is not anti-constitutional, reads the yesterday's resolution of the Constitutional Court (CC). The case was initiated at the request of President Georgi Parvanov, who challenged levies on stores and workshops - 5 levs per sq.m. Two of the constitutional judges are of dissenting opinions, considering the charge anti-constitutional. From early-2003, however, the tax of 5 levs per sq.m. will be rescinded, specify the amendments to the tax acts, to be considered by the Council of Ministers on Thursday. The amendments will reduce the patent charges for most businessmen and craftsmen and might bring the gray business to light. The final tax for the paid parking lots will be increased.
Stephan Kioutchukov

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