Following an investigation covering the financial years 2016-2021 at the aluminum producer Alro (BVB: ALR), the Romanian tax authority ANAF calculated RON 13.6 million (EUR 2.7 million) supplementary VAT and profit tax owed by the company.
The company’s management challenged the decision as “illegal” and said that it would use all legal steps to abolish it, according to a report of the company submitted to the Bucharest Stock Exchange.
Alro is a subsidiary of Cyprus-registered Vimetco, a vertically integrated global primary and processed aluminum producer.
The shareholder’s structure is Vimetco PLC (54.19%), Pavăl Holding (23.21%), Fondul Proprietatea (10.21%), and others (12.39%).
iulian@romania-insider.com
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