MOSCOW, Sep 21 (PRIME) -- Executives of Russian meat producer Cherkizovo are suspected of tax evasion leading to a loss of 300 million rubles, a source in law enforcement authorities told PRIME on Thursday.
“Executives of Cherkizovo are suspected of causing 300 million ruble damage to the state due to non-fulfillment of tax liabilities,” the source said.
An official of the Interior Ministry confirmed that the authority had found out a 300 million ruble tax fraud in an agricultural company but did not disclose the name of the suspected holding.
Spokeswoman for the ministry Irina Volk said that the suspects allegedly used offshore schemes during payment of dividends to the Cypriot shareholder of the agricultural holding, and this was in fact a ghost company. The scheme reduced the tax rate to 5% from 15%.
The guilty can face six years in prison.
(58.1290 rubles – U.S. $1)
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