Банкеръ Daily


“Lukoil Bulgaria” Has Threatened To Shut Down

The danger that the biggest fuel supplier is about to stop working is completely real because of the planned legislative changes, related to tax warehouses, announced the Director General of “Lukoil Bulgaria” Bulat Subaev.


Subaev sees the amendments to the Health Act which, however, change the excise law ,as perillous.


The changes are forcing the company to apply for a new tax warehouse license. Within one month, the company will have to divide its warehouse into seven separate tax warehouses and license each of them with a decision of the customs authorities. More measuring instruments must be installed on the pipeline itself, which starts from the refinery and ends in Sofia.


Currently “Lukoil Bulgaria” has a tax warehouse and a pipeline through which the products pass. The bases in Karnobat, Vetren, Stara Zagora, Plovdiv, Ihtiman and Iliyantsi are connected to it. One tax warehouse license has been issued for them and control is implemented by several customs offices.


"The law sets a very short deadline for submitting applications for bringing new warehouses in line and for licensing - only one month.


"The law sets a very short deadline for submitting applications for aligning new warehouses and licensing them - only one month." Given the deadlines, the amount of work needed and the practical impossibility to meet them, yes, the danger of shutting down is completely real," Bulat Subaev told BNR on Friday.


The law amendments also require a bank guarantee of BGN 30 million for each warehouse. The government sets out the opinion that the amendments will increase the revenues in the treasury.


"We are concerned that the amendment is being proposed through a bill that has nothing to do with excise legislation but is related to the regulation of the state of emergency and the measures to combat the coronavirus. Our company has been a licensed warehousekeeper since 2006. For 14 years our activity has been repeatedly inspected and there have never been any violations of tax and excise legislation. "We can certainly say that the company is one of the largest and most loyal taxpayers and therefore I have no logical explanation why such changes are introduced as a matter of urgency," said Subayev.


The position of "Lukoil" states that for 10 years the company has paid taxes of over 8 billion dollars to the budget and has no violations of customs, excise or tax legislation.


"Fiscal revenues do not depend on the number of tax warehouses our infrastructure will be divided into - nothing will be added to the treasury from the division itself. Secondly - this will entail huge investments and administrative costs," the head of the company said.

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