LONDON United Co. Rusal has rejected claims of tax evasion that led Russias Investigative Committee to raid its Moscow offices.
Investigators searched the offices Feb. 26 over claims that Rusal Foil, a subsidiary of the Moscow-based company, failed to pay profit and value-added taxes of 200 million roubles ($6.54 million). The Investigative Committee opened a tax evasion case against Rusal Foil head Igor Kasyanov in early February.
But Rusal has largely dismissed the claims, adding that a Moscow Arbitration Court ruling on the tax claims hasnt gone into effect.
"The actions of law-enforcement authorities in UC Rusals office are connected with groundless claims by the tax authorities and investigation department of the Moscow Investigation Committee (with regard) to Rusal Foil and to Rusal Foil management," the company said. "(The) Rusal press office notes that the decision of the Moscow Arbitration Court, on which the claims are based, did not come into effect and will be appealed by the company."
A version of this article was first published by AMM sister publication Metal Bulletin.