Jumbo To Work With Dutch Treasury To Avoid Tax Fines
Published on Apr 14 2014 11:17 AM in Retail
Dutch supermarket chains C1000 and Jumbo have until 1 July to confess to turnover fraud, in order to avoid additional fines being imposed by the national treasury.
Jumbo, which bought the C1000 banner in 2011, will start checking its franchisees and subsidiaries itself after it has agreed with the treasury department to do so.
"This protects Jumbo collectively against excesses. We want to be as a brand is not associated with fraud," Jumbo CFO Ton van Veen Jumbo told a Dutch newspaper.
The agreement stems from the fraud surrounding former Super de Boer supermarkets, which came to light two years ago after a massive raid by the IRS resulting the arrest of eight businessmen and €7 million worth of fines.
Super de Boer was taken private by Jumbo in 2009, having previously been owned by French retailer the Casino Group.
© 2014 - European Supermarket Magazine by Enda Dowling
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