Rumen Spetsov dismissed from the post of Head of Bulgaria’s revenue agency, new one appointed

The Council of Ministers dismissed Rumen Spetsov from the post of Executive Director of the National Revenue Agency for reasons related to non-performance of obligations under the National Revenue Agency Act, the Council of Ministers said on August 5.

According to information officially provided by the head of the NRA, since the beginning of the year, there have been mixed data on the forecast and expected tax revenues for 2022. By the end of March 2022, information from the NRA on the expected significant underperformance of revenues against the estimated tax revenues for 2022 under the State Budget Law is submitted. Since the adoption of the updated 2022 State Budget Law and notwithstanding the changes that occurred when the law was enacted, information has been submitted on the expected over-execution. Deviations in revenue forecasting, both in planning and expected execution, pose a risk to the planning and execution of the expenditure side of the budget and the financing of government policies.

In addition, there is an additional risk, not accounted for in the NRA's forecasts, related to the liabilities of a state-owned company to the budget. As of 31 July 2022, the company's arrears to the NRA are particularly large. Continued problems with the company's payment of VAT due by the end of the year would pose an additional risk to the performance of the revenue administered by the NRA.

Boris Mihailov has been appointed as the head of the Agency.

Boris Mihailov was born in 1959 in Sofia. He holds two master's degrees - in economics from the UNWE and in law. He has completed a management course in the USA, as well as qualification courses in Bulgaria in the field of privatization and privatization funds, commodity, stock and currency exchanges.

He was an auditor in the Ministry of Finance, a tax inspector and head of department in the tax administration, owner and manager of a consulting firm in the field of finance and law. He has over 10 years of experience as a tax and criminal law attorney. From June 10, 2021 to March 4, 2022, he was the Executive Director of the State Fund “Agriculture”.

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Speaking to BNT today, Spetsov said that early this morning he was summoned by caretaker Finance Minister Rositsa Velkova.

"The minister explained that she was dismissing me for political reasons and my dismissal was not related to the work of the NRA," Spetsov explained.

Asked if he was surprised by his dismissal, Rumen Spetsov said that the tax agency is currently very well structured and fulfils all its obligations to the budget.

"I am satisfied with the explanation that I was dismissed for political reasons and not because of the work of the NRA," Spetsov added.

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