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Audit Chamber reports growth of shadow companies in foreign economic transactions

June 24, 2012, 20:58 UTC+3

Shadow companies are often used for the illegal capital exports

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MOSCOW, June 24 (Itar-Tass) —— More than 46% of foreign economic agents in Russia had only one deal in 2011, and the indicator grew to 65.6% in the first quarter of 2012, the Russian Audit Chamber reported after it had verified the efficiency of the Federal Customs Service’s collection of customs duty and penalty debts.

“Efforts of the Customs Service cut the customs duty and penalty debts in 2011-2011. Debts of 11.6 billion rubles were collected in 2011, and another 2.2 billion rubles were collected in debts in the first quarter of 2012. As of April 1, 2012, overall debts of foreign economic agents to the federal budget stood at 58.2 billion rubles,” the Audit Chamber said.

At the same time, a number of factors have a negative effect on the efficiency of debt collection. It is sometimes impossible to collect debts on shadow companies, it said.

Shadow companies cannot be found at the locations they have indicated in founding documents. They have no financial or economic activity and own no property, which may be impounded in compensation for debts, the Audit Chamber said.

Besides, customs have little knowledge of the condition of bank accounts of debtors due to the long period of obtaining such information.

Shadow companies are often used for the illegal capital exports, the Audit Chamber said.


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