Will Eldorado repeat the fate of Arbat Prestige?

    Tax officials suspected Eldorado, Russia's largest household appliance trade network, of tax evasion of 15 billion rubles. This was reported by the newspaper Kommersant, citing a source in the tax office. At the same time, the main owner of the trading network Igor Yakovlev claims that we are talking about eight billion rubles. Bloggers in their comments discuss a possible connection between this case and claims against Arbat-Prestige and Svyaznoy.

    Now the decision to bring Eldorado to tax liability has not yet been issued, but the company has already received a verification report from the Federal Tax Inspectorate containing claims. The final decision of the tax authorities will be made in April this year. Sources of the newspaper claim that initially the amount of claims amounted to over 18 billion rubles, but then Eldorado was able to challenge some of this money.

    According to Igor Yakovlev, the total amount included tax claims on the activities of Eldorado in 2004-2005 in the amount of 180 million rubles and 7.82 billion rubles due to suppliers who worked with the company during this period. If Eldorado cannot challenge the claims of the tax authorities, then the network will be forced to sell part of the business. Yakovlev explains the situation by the fact that the total debt burden of the company, including suppliers and banks, is already more than a billion dollars.

    Kommersant notes that in February, financial director Anton Volyansky left Eldorado. The newspaper does not comment on the reasons for his departure from the company.

    The Eldorado chain, which has more than 1,100 stores, was founded in 1994. According to the network’s own data, the group’s turnover in 2007 amounted to $ 6 billion. Analysts polled by the newspaper estimate Eldorado’s capitalization at $ 5 billion.

    The materials of the newspaper Kommersant and Lenta.ru were used.

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