The sale of metal products abroad at understated prices decreases ...

Tag : Metal Products

Metal export at understated price is tax evasion inside country-PM

28.07.2008, 16.20


MOSCOW, July 28 (Itar-Tass) - The sale of metal products abroad atunderstated prices decreases the taxable income and is tax evasioninside the country, Russian Prime Minister Vladimir Putin said at ameeting of the government presidium on Monday.
He recalled that he has addressed this issue at a recent meeting ofthe cabinet. One of metallurgical companies is selling rawmaterials abroad cheaper than on the domestic market, he said.With the domestic price of 4,100 roubles (per tonne of cokingcoal) it sells it to its own offshore companies at 1,100 roubles,the prime minister continued. And immediately resells to itself at322 US dollars, he said. That will never do, Putin resented. Hecalled such practices decreasing the taxable income and taxevasion inside the country.



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