Moscow-Registered Foreign Firms Paid $225 Million in Tax Last Year

by Tatiana Smolenska, Tax-News.com, Moscow

28 April 2003

Foreign firms registered in the Russian capital contributed some 7 billion rubles ($225 million) in taxation to the consolidated budget according to a government official.

Some 16,077 foreign firms were registered in Moscow as of January 1 this year, up 2,000 on figures published at the same time last year, said Russian Tax Ministry international tax relations department head Igor Pedchenko to reporters last week.

Income tax payments to the federal budget by these foreign organisations stood at 795 million rubles ($25.6 million) last year with a further 775 million rubles ($24.9 million) flowing into the city's coffers.

The Tax Ministry official explained to the press conference that comprehensive figures for the total amount paid by foreign firms in Russia was hard to ascertain as outside Moscow they were generally registered at the same agencies as domestic firms. He also highlighted several billion rubles worth of taxes that remained outstanding from foreign firms that no longer existed.

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