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Major grain traders need to recover €100 mln worth of VAT

Autor: Dragos Serban

Publicat la data de 04 Sep. 2009 in: Stiri

The state must reimburse value added tax (VAT) worth some €100 million to major grain traders, on a market where tax evasion is as much as 70 percent.

International companies, such as Cargill, Glencore, Alfred C. Toepfer International, and Bunge, or regional ones, including Serbia-based Ameropa Ispoint, could be on this list. Traders say that it takes up to two years to get VAT reimbursement, which makes their operations significantly more difficult.

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“VAT is a loss for the Romanian state. In May and June, companies are founded to buy grain tax free, and then they sell it, including the tax. Months later, they sell the company abroad or file debts to the Trade Court,” one of the top agricultural producers locally, Culita Tarata, told Business Standard.

Autor: Dragos Serban

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