‘Arcelor Mittal Prijedor’ Company admitted 3.3 Million BAM Tax Evasion

June 8, 2020 8:45 AM

 

“Arcelor Mittal Prijedor” company admitted tax evasion with transfer prices and paid all determined obligations to the Tax Administration of Republika Srpska (PURS). The complete documentation in this case of tax evasion was submitted to the RS Ministry of Interior, Vijesti.ba news portal reports.

Namely, the Study of Transfer Prices of “Arcelor Mittal”, which was commissioned by PURS, was completed at the end of last year and showed that “Mittal” had transfer prices with two related companies, which do not correspond to the market, which damaged the RS Budget for more than 3.3 million BAM, writes Capital.

In the meantime, interest was calculated, so the debt of “Mittal” increased to 6.4 million BAM.

This was also confirmed for Capital by the Tax Administration, which, after it was established that the transfer prices did not correspond to the market ones, determined by the control that the income tax would be calculated for the period 2010-2013 year amounts to a total of 6.4 million BAM with interest.

“These obligations are imposed with two solutions. “Taxpayer ‘Arcelor Mittal Prijedor’ did not file an appeal and fully settled these tax obligations imposed by the decisions,” they pointed out in PURS.

They confirmed that the “Tax Administration submitted the minutes, decisions and the mentioned Transfer Price Study ‘Arcelor Mittal Prijedor’ to the RS Ministry of Internal Affairs, which works under the supervision of the competent prosecutor’s office.”

Analyzed documentation on transfer prices of “Arcelor Mittal” for the period 2010-2013 showed that the company had transfer prices that do not match the market with the companies “Arcelor Mittal Zenica” and “Arcelor Mittal Sourcing”.

 

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