In the coming days, 300,000 farmers by profession will see excise tax refunded to their accounts. The decision of the financial headquarters indicates the procedure for calculating the maximum required amount of oil by type of crop and livestock. For example, cotton producers require 30 liters per hectare, durum wheat producers are estimated to require 16 liters, gardeners require 20.5 liters, etc.
As emphasized in the decision, the excise duty refund applies to 50% of this amount of oil and is calculated using a rate of 0.41 euros per liter. For example, for 100 hectares of durum wheat, the maximum amount of oil is set at 1600 liters, and the VAT refund will be calculated from 50% of this amount, that is, 800 liters. At a rate of 0.41 euros per liter, this producer will receive 328 euros as a refund. In particular, and in accordance with the decision to return the tax return:
• The competent service for the return of EFK is the General Directorate for e-Government (GDILED) of the AADE.
• The Ministry of Rural Development transmits to GDILED the TIN of the beneficiaries – as they are registered in the IASD – and the TIN of the annual allowable amounts of fuel for which each beneficiary can receive compensation.
Budget costs from tax refunds for agricultural oil reach 70 million euros.
• GDILED digitally processes beneficiary information and calculates the EFK reimbursement amount.
• The recipient notifies the bank account of payments to the tax administration by submitting a statement in the options “Register” and “Communication / Statement on the account IVAN”. After the necessary crossings, the refund is credited.
However, the declared data will be verified by AADE. Auditors are requested to verify the amount of motor oil purchased by the beneficiaries and the motor oil purchase documents they hold. In the event that a tax refund is found for volumes of engine oil for which the relevant sales documents are not issued, the refund amounts will be sought.
Budget expenditures from tax refunds for agricultural oil amount to 70 million euros.
Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.