Grain exporters will take from transactions with intermediaries

18.05.2017

Major companies-exporters of grain on 19 may, will sign a Charter against illegal circulation of agricultural products

Grain exporters will sign a Charter, according to which market participants agree to avoid transactions with intermediaries for the procurement of agricultural products, that is going to purchase only from manufacturers, processors and agents, when selecting contractors to "exercise due diligence and honesty".

This measure is connected with the fact that the transactions involved a large number of participants, complicating the process of VAT refund to exporters. Since farmers pay the unified agricultural tax (UAT) at a rate of 6% or 10%, of his compensation, they often use the services of intermediaries. Eventually, the exporters and end buyers having difficulty with VAT reimbursement because of the inability to recover all of the data in the chain of intermediaries, explained to "Kommersant" the General Director of Institute of conjuncture of agrarian market (IKAR) Dmitry Rylko. It is noted that, according to some estimates, budget losses from illegal compensation of the VAT in the agricultural market represent more than 65 billion rubles.

In the first phase to participate in the Charter plan of TD "RIF", Cargill, international grain company (MKZ, the Russian structure of Glencore), holding "Aston", only about 10-15 companies. However, to sign the Charter may each market participant at any time. The document will be of a permanent nature.

As the newspaper notes, the restructuring of the structure of the market in accordance with the principles of the Charter will take 1.5–2 months. In the opinion of the beneficiary "Reef" Peter Khodykina, such restructuring may have a negative impact on the export of grain. Other market participants suggest that working on UAT producers do not want to sell products to exporters 10% cheaper and will tend to hold stocks of products.

In the end, subject to the principles of the Charter by all market participants, producers, paying accounts, can reduce selling prices by 5-8%.

On in the hope that the Charter will clear the market from unscrupulous players, will improve the yield and increase the tax base.


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