As he was addressing a news conference in Baku, Azeri capital, yesterday, Mr. Stepashin spoke up for fiscal legislation to be streamlined and so prevent corporate tax evasion through aboveboard subterfuges.
The Sibneft petroleum giant alone has transferred 14 billion rubles, close on $500 million, via its offshore branches this year. The figure surfaced as the Audit Chamber was inspecting the company.
"We can only regret that it was done by legal moves. The law has been amended by now, and we have brought things into order-but huge money that could be working in the national purse has been lost."
The Audit Chamber also checked other major oil companies last and this year-Yukos, Transneft and Rosneft. "All offshores closed, as of January 1, thanks to our efforts-better late than never. Domestic offshore affiliates accounted for the greater part of evaded taxes. All oil companies without exception had been doing the trick. True, LUKoil and certain other companies paid back taxes, after all," said Sergei Stepashin.
