Our approach to fiscal responsibilities
Agroamerica´s Tropical Oil tax strategy guarantees compliance with fiscal responsibilities in every jurisdiction where it operates and where it corresponds. The entities that comprise the tropical oil division have a team of highly trained people, who have allowed us to comply in an adequate and timely manner, all the commitments we have in tax matters in the countries we operate.
From planting the seeds until the plantation is in production, we accumulate a considerable amount of tax credit which is the best indicator of tax compliance. This credit is recovered by complying with the requirements of the Government´s Tax Office to be able to start and continue with the export of tropical oil to international markets.
From this moment on, the Government´s Tax Office carries out the document review processes and verifies strict compliance and good practices, progressively reimburses the credit.
Each business unit, whether productive or commercial, pays its taxes in the jurisdiction that corresponds, according to the applicable legislation. In addition, as a validation of our tax compliance, our external auditors carry out a general review at the end of each calendar year