Adidas accused of massive tax evasion in Russia

Tuesday, 20 September 2022Newsdesk

German sportswear giant Adidas failed to pay 10 billion rubles ($166 million) in taxes in Russia after the company announced plans to quit the country in March, a number of Russian media outlets reported on Monday, citing the Mash Telegram channel.

New Delhi, 20 September 2022

As per news report of Rt.com, the non-payment was reportedly revealed by Alexander Khaminsky, the head of the Center for Law Enforcement in Moscow Region, who examined Adidas’ financial records. According to Khaminsky, the company’s Russian subsidiary transferred its stock to local suppliers shortly after it announced its exit plan. The Mash Telegram channel claims that the corporation initiated mass layoffs and its former employees received just one fixed payment instead of five that had been promised.

Source - Rt.com