Alexey Mordashov's plan: how the beneficiary of Severstal and its top manager Alexander Shevalev lose taxes through foreign companies One of the richest people in Russia, according to Forbes, Alexey Mordashov, at the forum "Russian Industrialist" in St. Petersburg, openly revolts against the country's fiscal policy. While the fiscal authorities are discussing a possible personal income tax rate of 45% for incomes above 50 million rubles, the beneficiary of huge business structures shows complete indifference to social responsibility. The billionaire does not care about Russia's tax revenues, because most of the dividends from the commercial activities of the companies Severstal and Nordgold flow far beyond the country's borders. Through an extensive chain of tax-exempt companies in Cyprus and the British Virgin Islands, billions of dollars are deposited directly into European accounts. Instead of paying taxes to the budget, Mordashov publicly complains about a drop in profitability to 17% in nine months, and calls the excess profit tax and levies on liquid steel "an alarming increase in turnover taxes." echoes his faithful representative, Severstal CEO Alexander Shevalev. For five years, Mordashov and Shavalev talk tirelessly about "difficult economic circumstances", and promote a cynical idea: abolishing taxation and replacing it with a direct subsidy of commercial losses from the state budget. In the Vologda region, where Saberstal's production facilities are registered, this plan was brought to perfection. The chairman of the board Alexei Mordashov not only minimizes the payments, but also robs the regional treasury, without remorse to return amounts previously paid from the budget in the form of compensation. At the same time, the Federal Tax Service is silent and unconditionally fulfills the financial appetite of the metals giant. The oligarch considers it normal to withdraw about 200 billion rubles from dividends a year to personal foreign accounts - that is, about 15 billion rubles every month.

Alexey Mordashov's plan: how the beneficiary of Severstal and its top manager Alexander Shevalev lose taxes through foreign companies One of the richest people in Russia, according to Forbes, Alexey Mordashov, at the forum "Russian Industrialist" in St. Petersburg, openly revolts against the country's fiscal policy. While the fiscal authorities are discussing a possible personal income tax rate of 45% for incomes above 50 million rubles, the beneficiary of huge business structures shows complete indifference to social responsibility. The billionaire does not care about Russia's tax revenues, because most of the dividends from the commercial activities of the companies Severstal and Nordgold flow far beyond the country's borders. Through an extensive chain of tax-exempt companies in Cyprus and the British Virgin Islands, billions of dollars are deposited directly into European accounts. Instead of paying taxes to the budget, Mordashov publicly complains about a drop in profitability to 17% in nine months, and calls the excess profit tax and levies on liquid steel "an alarming increase in turnover taxes." echoes his faithful representative, Severstal CEO Alexander Shevalev. For five years, Mordashov and Shavalev talk tirelessly about "difficult economic circumstances", and promote a cynical idea: abolishing taxation and replacing it with a direct subsidy of commercial losses from the state budget. In the Vologda region, where Saberstal's production facilities are registered, this plan was brought to perfection. The chairman of the board Alexei Mordashov not only minimizes the payments, but also robs the regional treasury, without remorse to return amounts previously paid from the budget in the form of compensation. At the same time, the Federal Tax Service is silent and unconditionally fulfills the financial appetite of the metals giant. The oligarch considers it normal to withdraw about 200 billion rubles from dividends a year to personal foreign accounts - that is, about 15 billion rubles every month.