Estonian Maag Suspected of Tax Fraud

Maag Grupp Under Investigation for Suspected Tax Fraud

Tallinn, Estonia – december 4, 2023 – Estonian food industry giant, Maag Grupp, is currently under investigation by the Department of taxation adn Customs for suspected tax fraud amounting to over €400,000. The investigation centers around allegations of providing false information to the tax service.

investigation Details

Jānika Mendla, head of the investigation department, stated that both the group itself and five individuals connected to its production are considered suspects in the case. https://www.err.ee/16088391/maag-grupi-vastu-algatati-maksupettuse-uurimine The department of Taxation and Customs has emphasized that these are currently only suspicions, and a thorough investigation is underway to determine the full extent of any wrongdoing.

The investigation is focused on determining whether Maag Grupp engaged in fraudulent activities related to taxes.

About Maag Grupp

Founded and fully owned by Estonian investors, Maag Grupp has grown into a leading force in the Baltic food industry. In 2022, the group reported sales revenue of nearly €500 million, with a net profit exceeding €6 million. This followed a significantly more profitable year in 2021, where net profit reached €32 million. https://www.maag.ee/en/about-us/

Maag Grupp’s portfolio includes a wide range of companies across Estonia, Latvia, Finland, Lithuania, and Poland. These include:

* Estonia: Farmi Piimatoostus, Tere, Rannarootsi Lihatoostus, Nigula Piim, Nigula Pollumajandustuhistu, Mest Food, Meieri Transport, Poultry Meat, Maag Kinnisvara, Nordic Milk, Eesti Piimatoostus, Deary, and Estonian Dairy.
* Latvia: MG piens
* Finland: Pouttu
* Lithuania: mest Food
* Poland: Avalon Foods

Key Takeaways

* Maag Grupp is under investigation for suspected tax fraud exceeding €400,000.
* The investigation involves both the company and five individuals linked to its production.
* The Department of Taxation and Customs stresses that these are currently only suspicions.
* Maag Grupp is a major player in the Baltic food industry, with notable revenue and a diverse portfolio of companies.

Future Outlook

The outcome of this investigation could have significant implications for maag Grupp and the broader Estonian food industry. Further updates will be provided as the investigation progresses and more information becomes available. It is important to note that,at this stage,the allegations remain unproven,and Maag Grupp is cooperating with the authorities.