NRA begins inspections of insurance brokers

NRA begins mass inspections of insurance brokers in during the campaign to take out insurance against civil liability. The Agency has received numerous reports that insurance brokers sign contracts with agents who receive commission from any insurance. The problem is that insurance agents do not declare massive incomes, but part of insurance brokers reported fictitious expenses. In NRA detected attempts to justify the notional cost of the type of marketing research, Internet advertising and consulting services. In this way the brokers reduce their profits, taxes, respectively.
Insurance agents, in turn, not to declare their income from NRA commission did not pay any taxes or contributions.
„There are a large group of people who work as insurance agents in Bulgaria. Almost all are in the black economy – neither provide nor pay taxes. This is done with the knowledge of insurance brokers. NRA will review the schemes of tax evasion in the insurance and sanction violators. The opportunity for those agents who have not declared their income in recent years to do so by the end of 2009. Will be fined a minimum amount and will pay interest on unpaid taxes, but will avoid more serious penalties, „said launch inquiries concerning the Executive Director of NRA Krassimir Stefanov.

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