Garadagh taxation questions

Garadagh taxation questions
06 June 2005

Garadagh Cement does not accepts claims of Ministry of Taxes of Azerbaijan, however, it is ready for dialogue with it on this issue.  As Garadagh Cement spokesman Uwe Koehler has stated, on 25 May he received results of inspection, implemented by the MT at Garadagh Cement. 

"The tax employees, which conducted the inspection asked questions of amortisation of capital assets, payments of rates of interest on credit granted with the head company (Holcim), but also to such strange items as excessive consumption of limestone and gypsum in our clinker and cement according to production norms from the Soviet times. As a serious corporate citizen and large taxpayer in this country we are ready at any time to clarify all open issues with the tax authorities and to make corrections in our tax return, if necessary." - Uwe Koehler has said. 

Yesterday the Ministry of Taxes announced instituting proceedings by the Department of Preliminary investigation of tax oppressions under the article 213.4 (avoidance from taxation in large amounts) of Criminal Code of AR. During the inspection facts of avoidance from taxes in amount of 13289.5 mn AzM($2.8m) were apparently revealed. 

Published under Cement News