The investigation focuses on the evasion of taxes such as VAT and ISP and the compensation due whenever an operator fails to incorporate the amount of biofuel required by law.
The Tax Authority is investigating a case of fraud practiced by fuel import companies that could be damaging the Portuguese state by more than 200 million euros, writes Diário de Notícias this Sunday.
According to the newspaper, the investigation focuses on the evasion of taxes such as VAT and ISP, but also on the compensation that is due whenever an operator does not incorporate the amount of biofuel required by law to reduce CO2 emissions.
In addition to the fact that the targets for biofuels are not being met by all operators, there are also shortcomings in the monitoring of this incorporation. The Tax and Customs Authority guarantees that it is taking action at the inspection and penal levels.
The scheme involves “illicitly taking advantage of the VAT and ISP differential between Portugal and Spain, buying fuel on the Spanish market as if it were to operate locally and then selling it in Portugal, without declaring it and paying the remaining VAT,” António Comprido, secretary-general of the Portuguese Association of Oil Companies (APETRO), told the newspaper.
