AgroFair has been awarded the Fair Tax Mark, making it the first Netherlands-based multinational to achieve the gold standard of responsible tax behavior. AgroFair is a worldwide distributor of Fairtrade and organic bananas, with a turnover of over 100 million euros per year. Its Okay and Latin Pride brands are available across Europe, New Zealand and Korea – and were recently rated the ‘Ethical Consumer’s Best Shop’.

AgroFair works with producers in Peru, Ecuador, Dominican Republic, Costa Rica, Panama and Nicaragua. What is unique is that these producers own shares in the company and have a large say in management. This includes the right to appoint a member of the Supervisory Board and receive a share of dividends.

The Fair Tax Mark is the global gold standard for responsible tax behavior. It recognizes the company paying the right amount of corporate tax at the right time and place. Accredited companies include registered PLCs, cooperatives, social enterprises and large private companies.

AgroFair has paid corporate tax of 24% of its profits for the last five years. They also say they have gone beyond what was necessary with increased country-by-country public reporting, disclosure of beneficial ownership, and a strong commitment to tax haven abuse and aggressive tax planning.

Hans Willem van der Waal, CEO, AgroFair said: “We have taken the lead in making the international trade in bananas fairer and more sustainable. We believe that paying a fair amount of tax in countries where profits are made is essential if a company like ours seriously committed to the Sustainable Development Goals. The Fair Tax Mark recognizes for the first time an important aspect of our corporate fairness.”

Paul Monaghan, Chief Executive, Fair Tax Foundation, said: “The Netherlands is the birthplace of the Fairtrade label, so it’s only fitting that the Fairtrade pioneers were the first companies in the Netherlands to receive the Fair Tax Mark. The global movement for trade and tax justice has the same roots, both committed on responsible business conduct and fair competition In the UK, a large number of cooperatives have been awarded the Fair Tax Mark in recent years, and we expect AgroFair’s recognition to be the start of expansion across Europe AgroFair is an example of responsible tax behavior and financial transparency They have embraced disclosure of key economic data by country and are open about their beneficial ownership, despite the fact that registrations were established across Europe, including in the Netherlands company property being closed.”

For more information:
AgroFair Benelux
Merchant Street 10
2991 LN Barendrecht
+31 (0)180 643900
info@agrofair.nl
www.agrofair.nl
www.fairtaxmark.net