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As "Kommersant" was reported by Almazyuvelirexport, the tax inspection has not so far resulted in any documented objections. But a private converastion with the officers made it clear that Almazyuvelirexport will soon be in trouble. The Taxation Ministry refused to comment on the situation saying that the inspection is not over yet. However, "Kommersant" found out that the Ministry officers have already sent a directive to the office where Almazyuvelir is registered to exact 2 billion rubles from the company. Almazyuvelirexport is charged with hiding from taxes part of the profit received in the revaluation of the main assets. In addition the officers claims that the company conducted an accelerated depreciation of the assets.

The inspectors insists on taxing the ruble diffirence received by Almazyuvelirexport between accepting of valuables to the balance and the moment they are sold. Any attempt to refer to the letter of Finance Industry regulating revaluation of precious metals and stones is denied by the ofiicers. Letter of Finance Ministry are treated as "clarifying and not regulating" at the Taxation Ministry. Now not only Almazyuvelirexport but also cutters and jewellers could be in for troubles.

"Kommersant-Daily"