VAT Data Analytics and Inspections to Prevent Profiteering During Euro Transition

• The National Revenue Agency is using VAT data analytics to detect and prevent unfair profiteering during the currency changeover.
• Businesses attempting to raise prices under the euro transition will be scrutinized.
• Tax officials will cross-check price increases with VAT declarations to identify profiteering.
• Businesses must provide evidence for price hikes based on actual cost increases.
• Joint inspection teams have reviewed 150 retail outlets in 30 cities, focusing on essential food categories.
• Inspections are expanding to include restaurants, fast food vendors, salons, and cafés.
• Authorities are addressing misleading dual pricing practices.
• Retailers displaying euro prices in red font must stop this practice.
• The Competition Commission has issued guidelines for correct dual pricing formats.
• Starting 8 July, stores must display both lev and euro prices with equal font size and color.

Source: vatcalc.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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