PRESS: Unfair firms use “golden parachutes” to withdraw money

MOSCOW, Apr 12 (PRIME) -- Unfair companies increasingly frequently use so-called “golden parachute” operations to withdraw money, Kommersant business daily reported on Thursday citing market participants.

A source from a bank ranking among Russia’s top 50 banks mentioned cases when small Russian companies transfer large sums to individual accounts indicating “payment of employment termination compensation” as a reference. Even if a bank doubts whether such an operation is legal, its customer may provide internal documents including necessary agreements and orders to pay such a “golden parachute.”

Another source said that in some cases such operations need payment of a 13% income tax, but this is not a high rate for money withdrawal operations.

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