Tax Committee starts monitoring P2P transfers to track unreported income

According to the Tax Committee, the primary objective of this initiative is to reduce the shadow economy while fostering an environment of economic justice and support for law-abiding businesses.

The investigation focuses on specific business entities involved in trade that accept payments through P2P transfers rather than official payment terminals. Official reports indicate that in many instances, these funds are not reflected in tax filings, leading to significant shortfalls in the state budget. To address this, tax officials are specifically reviewing the bank card transactions of executive-level employees at legal entities to cross-reference incoming funds with declared business turnovers.

Following the identification of discrepancies, the tax authorities are issuing notifications to taxpayers regarding income that was omitted from their official reports.

The Tax Committee emphasized that these measures are not intended as a punitive campaign or a means of applying undue pressure on the private sector. Instead, the focus remains on eliminating informal turnover and ensuring that all market participants compete on a level playing field.