Putin’s Finnish friend owes millions in taxes

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Businesses established by the Russian-Finnish oil tycoon Gennady Timchenko owe the Finnish state more than EUR 14 million in unpaid VAT and surtaxes, Helsingin Sanomat reports. The Finnish-registered oil trading company IPP owes EUR 2.2 million in taxes, while the holding company Merropoint owes another EUR 12.1 million. The unpaid VAT relates to deals by Mr Timchenko’s Finnish business flight carrier Airfix Aviation.

http://www.hs.fi/english/print/1135252081597

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  1. Supreme Administrative Court to rule on Timchenko’s aircraft deals

    Companies established by Gennady Timchenko do not, in fact, have any outstanding debts to the tax authorities, according to documents sent to Helsingin Sanomat. Both companies — IPP and Merropoint — have paid the disputed taxes following a ruling by the Helsinki Administrative Court.

    The Supreme Administrative Court will rule on whether the purchase of aircraft can be VAT exempt if the owner of the aircraft transfers the plane to the use of another company. The court will also look at the fact that the aircraft in question primarily carried Merropoint’s principal owner, Gennady Timchenko.

    http://www.hs.fi/english/article/1135252247840

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