Panamanian Agricultural Exporters Request Adjustment of Euro-Certificates
The union of non-traditional agricultural exporters (Gantrap) indicated that the Euro-Certificate regulation does not guarantee a total refund.
Tuesday, March 10, 2009
Francisco Antúnez, Gantrap representative told Prensa.com: "Currently, the Euro-Certificate is paid based on the tax of the sale price in the international market, and it should be based on the actual value that is charged and documented on the receipt that is issued by the European Economic Community (EEC)...there could be an incorrect refund on a receipt done by the exporter when what is taken into account is what the EEC charges. Regarding this issue, there are different systems in Spain, England and Holland."
The non-traditional agro-export sector of Panama predicts the worst production in 25 years, with a 40% fall in the cultivated area and 50% in volume.
To date, 100 requests have been made that represent about $300,000, but the government has not made any payments.
Agro-exporters are not using Euro-Certificate alternatives because they consider that the "procedure is complicated."
With Eurobono, exporters will temporarily be exempted from facing disadvantageous conditions due to export tariff to the European market.
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