Abramovich dodged millions in tax with superyachts-for-hire scheme
Published On Jan 28, 2025, 1:00 AM
An investigation by BBC News and the Bureau of Investigative Journalism has uncovered a sophisticated tax evasion scheme involving Russian billionaire Roman Abramovich's fleet of luxury yachts. The scheme, which utilized a network of companies to misrepresent the yachts as part of a legitimate commercial leasing operation, was designed to evade millions in VAT and tax obligations. The leaked documents reveal that the yachts were chartered to entities that appeared independent but were ultimately controlled by Abramovich. The investigation indicates that the setup was primarily aimed at dodging taxes, leading to allegations of criminal tax evasion against Abramovich.
Stock Forecasts
RCL
Negative
Abramovich's controversial legal and financial situations are likely to attract governmental scrutiny, particularly in relation to tax regulations. Companies associated with tax evasion schemes can face penalties, and public sentiment may shift against businesses perceived as supporting these endeavors. Investors in companies linked to Abramovich may experience volatility as regulatory actions become more stringent.
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