President of Bashkortostan Murtaza Rakhimov (left) and his son Ural Rakhimov
Photo: Архивное фото
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Bashkortostan President's Son Faces Tax Claims
Ural Rakhimov, son of the president of Bashkortostan, may ose the controlling stock packages in the republic's six main heat and electricity generating enterprises. The Moscow Arbitration Court began preliminary hearings of the first of four cases filed by tax inspectors seeking to transfer income from that stock to the federal budget. Simultaneously, tax authorities have announced claims of 42 billion rubles against Bashkortostan Capital, which is also controlled by Rakhimov.
Until April of last year, OOO Bashkortostan Capital controlled 52-66 percent of the six heat-and-power enterprises. In April, Bashkortostan Capital unexpectedly transferred broke its holding down into packages of 13-16.5 percent and distributed them without remuneration among four newly-formed philanthropic foundations. Three weeks later, those foundations formed joint-stock companies to which they transferred the stock.
Anton Ustinov, head of the Federal Tax Service legal department, who participates personally only in the most important of the service's cases, was present at the court hearing yesterday. The tax service is seeking to have all the stock transfers declared invalid. Article 169 of the Civil Code of the Russian Federation allows the transfer of everything received through illegal stick transfers to be transferred to the federal budget. The court has already prohibited any further transfers of that stock.
The tax service noted that the goal of the stock transfers might have been to prevent the return of the stock to state ownership. The Audit Chamber uncovered irregularities in the privatization of the enterprises involved in 2003 and estimated losses based on the nominal value of the stock at $120 million.
After the stock transfer in question, the founders of Bashkortostan Capital wanted to dissolve the company. That would have prevented the return of the stick transferred, which is what usually happens when a transfer deal is invalidated. Tax service representatives say that, after that stock transfer, profit taxes were not paid, resulting in the claims of 42 billion rubles.
www.kommersant.com
All the Article in Russian as of Feb. 16, 2007
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