Trade Ministry accuses three cars' concessionaires of taking control over 50% of imports
الشروق أونلاين
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A study that was conducted by the Trade Ministry recently about the activity of cars’ concessionaires, uncovers several excesses and imbalances in this business, which made three agents take over 50% of imports, while the report accused the concessionaires of transferring additional capital, and raise the costs, and use some techniques to evade financial and fiscal control.
According to the study, which formed the focus of a report that was transmitted by the Trade Ministry on the services of the Prime Minister, which focused on customs and analyzes of data outcomes that are deposited by concessionaires at the National Center for Commercial Record, although the cars’ sale activity maintained its profit in 2013, which was estimated to 18 billion dinars, as eight concessionaires registered on the other hand a “deficit” that reached 742 million dinars for a French agent.
The study that was published by APS shows that some of the practices that are used by agents, including transferring additional capital and raise the costs and budget by using some techniques to evade financial and fiscal control in Algeria, and the evaluation study indicates that cars’ imports included a rise in prices at import by nearly 9%.
This increase shows adjusting the average prices per car, which moved from 95 million centimes in 2013 to more than 100 million centimes in 2014, while the nominal exchange rate dollar / dinar declines only by 1.1%.
Same study also shows that the imported inflation that is caused by the price adjustments deserves special attention, especially since the cars’ sector knows a decline in sales at the international level, which is supposed to lead to a decline in import prices.
The report suggests controlling the customs’ declarations along the lines with the authorized prices and invoices, and the origin of the product, the study reveals that three agents represent two signs that imported in 2014 the equivalent of $ 2.5 billion, or about 50% of the total imports of the branch, and the study expects that one agent will be able, in case of a continued activity at this pace, to mobilize financial sources that are estimated to one billion dollars.
With regard to market shares that are controlled by branches of foreign companies and companies with Algerian shares, the result remains the same with recording a decline of the participation of foreign branches, although the latter took control over 52% of market shares with an amount that contributed with 25% of the overall results of the branch, while the companies with Algerian shares took control of 48% of the market share, but with the contribution in the overall results of the branch by 75% or three times more than the first.
