The Komisar Scoop Reports & Analysis by Investigative Journalist Lucy Komisar

Thursday, July 1, 2004

Study: “Russia loses $9 billion through phony import – export priced trade with the United States”

Filed under: offshore,Russia,Scoops,tax evasion,World — Lucy Komisar @ 11:14 pm

By Lucy Komisar
The Russia Journal, July 1, 2004

Three U.S professors, analyzing import and export transactions between Russia and the U.S., have found that phony prices led to as much as $8.92 billion in capital flight from Russia to the U.S. in 1995-1999.

Even with calculations providing the most conservative estimate, at least $1.86 billion illegally left Russia during that period. Assuming a 25 percent average tax rate, the lower figure would mean nearly half a billion dollars in illegal tax evasion, and the higher one more than $2 billion in taxes lost, just in trade involving the U.S.

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