AlbanianEconomy.comYour News from Albania
Albania Fines Flour Mills for Fixing Prices
Tirana, 20 Oct 2009 (AE) Albania’s Competition Authority fined on Tuesday the country’s two biggest flour mills, after an investigation found them guilty for fixing prices and sharing the local market.
“Our investigation found that Altas Sh.a and Bloja Sh.A had coordinated their activity in importing grains and producing flour,“ the authority said in a press release. “These [companies] had applied the same prices in the local market and both control a major share of that market,” the statement added.
Bloja Sh.A was fined for 38.5 million leks (280,000 euro) while Atlas Sh.A was fined for 27.8 million leks (200,000 euro). Both companies said that they will appeal the decision in local courts.
Albania imported 112,000 tons of grain in 2008 while the companies under investigation produced together 70,000 tons of flour with total market value of approximately 26 million euro.
The competition authority recommended also to the ministry of Finance the removal the referral prices on which tax duties are applied, claiming that such practice is affecting the competition environment in the market.
Fiscal authorities in Albania use “the average price in the market” to calculate taxes duties, claiming that in this way they minimize tax evasion.
Other Articles
Leave a Reply
