Levski starts to clear its Bulgarian tax mountain

November 10 – Bulgaria’s Levski Sofia has paid nearly BGN 2.5 million (€1.25 million) of its debt to the National Revenue Agency (NRA) in the last eight months, according to information given to shareholders at the club’s AGM this week.

Levski continues to have a huge debt to the state, but the club has been meeting the repayment agreement agreed with the NRA.
Levski liabilities to the National Revenue Agency are still standing at BGN 10.1million (€5million).

Since the beginning of the year, nearly BGN 400,000 (€200 000) has come into the club’s coffers from donations, and BGN 585,615 (€ 292,000) has been generated via increase in the company’s capital. These sums were used to repay Levski’s old debts accumulated over a number of years.

After the General Meeting from Levski released the following statement: “At the meeting, the annual financial statements of the company for 2022 were adopted, an independent auditor was elected for 2023, the members of the Supervisory and Management Board for 2022 were released from responsibility, and the club’s management informed the shareholders about the current state of the club and gave a report on what was achieved in the period 01.03.2023 – 06.11.2023

“…the principal of the company’s obligations to the National Revenue Agency was repaid in the amount of BGN 2,482,559, and as of March 1, 2023, the obligations to the National Revenue Agency amounted to a total amount of BGN 12 029 125 (BGN 7,671,896 principal and BGN 4,357,229 interest). As of November 6, 2023, the debt is already BGN 10,099,812 (BGN 5,189,337 principal and BGN 4,910,475 interest).

As well as the settling of old debts, the club has been meeting current payments to the National Revenue Agency (VAT, VAT, other taxes and insurance) of BGN 2,462,801. Theamount paid to the National Revenue Agency amounts to at BGN 4,945,360 (€2.5 million).

As well as paying off its state taxes, Levski has also paid off suppliers owed more than BGN 500,000 (€250,000).

Contact the writer of this story, Aleksander Krassimirov, at moc.l1716206135labto1716206135ofdlr1716206135owedi1716206135sni@o1716206135fni1716206135