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  • POPEK calls for exemption from the potential tax on bank transactions

    The nationwide federation of fuel station owners and traders (POPEK) has called for an exemption from the tax on bank…

    The nationwide federation of fuel station owners and traders (POPEK) has called for an exemption from the tax on bank transactions that is being considered by government.

    According to POPEK about 65% of the turnover on fuel sales amounts to taxes and that the gross profit margin in their sector is about 3% to 5%. As such, a tax on bank transactions may have a devastating effect.

    Furthermore, the federation urges the Ministry of Finances to focus its efforts in combating the illicit fuel trade, in order to secure the necessary revenue for the pension funds.

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