Банкеръ Weekly

Briefs

CHIEF OF TAXES OFFICIALLY HEADS NATIONAL REVENUE AGENCY

The Chief Taxation Director at the Ministry of Finance Nikolay Popov is now officially announced Executive Director of the National Revenue Agency. The Agency, which is scheduled to start working at beginning of 2004, is a specialized body with the Minister of Finance, entitled to specify, guarantee and collect public state receivables. Till 2004 its structure should be established and the necessary staff appointed. Mr. Popov's appointment was predetermined by the transitional and final regulations of the National Revenue Agency Act, which was enforced on November 8, 2002. His official stepping into power in fact gives green light to the development of the new centralized state-owned body to control budget revenues.According to one of the provisions of the legal act, the Government is obliged to take the decision for the appoitment no later than December 31, 2002. Among the main requirements to be met by the Director of the National Revenue Agency are higher education in economics, at least ten years of experience in the field of finance and insurance, and a clear criminal file.The mandate of Nikolay Popov will be one year. He will have to present his deputies as soon as possible and they will be approved by the Finance Minister Milen Velchev. By law the Management Board of this agency includes (apart from its Executive Director) the Minister of Finance, one of his deputies, the Head of the National Insurance Institute (NII) and the Head of the National Healthcare Insurance Fund.At regional level the National Revenue Agency will be presented by its local offices. The management of the Agency will have to work out and deposit for consideration by the Government amendments of the taxation and insurance legislation. It is these amendments that should secure the legal basis for the uniform reception of declarations, for accounting of the companies' revenues and for revision of their liabilities. The amendments to be prepared by Nikolay Popov's team are expected to secure new and simplier procedure for appealing against public state receivables. Drafts for Organizational Regulations of the National Revenue Agency should be prepared by end-2003. This will practically lead to major shifts within the structure of the tax administration and the NII. By end-2003 the activity of those two departments will actually pass to the Agency. However, the regional offices of the Tax Department and the NII will continue to perform their duties according to the Tax Procedure Code and the Code for Obligatory Public Insurance.One of the tasks facing the new Head of the National Revenue Agency is to create uniform information system, uniting both departments - tax authorities and insurers.

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