‘The Accounts Chamber has not found any capital tax violations performed by metallurgical companies of EvrazHolding Ltd.,’ the Accounts Chamber Auditor Vladimir Panskov reports.

As for the rumors concerning the Chamber’s claims to EvrazHolding Ltd. members in terms of tax payments, Mr Panskov said that the companies’ accounting systems complied with the Russian legislation.

Yet the recent inspection has proved that the existing tax legislation has to be improved.

‘The current wording of the clauses does not always clearly define certain terms and procedures,’ Mr Panskov said. It is particularly true in terms of price setting, he believes.

According to Mr Panskov, the Chamber has decided to present its improvement project aimed at protecting the state interests and the bona fide taxpayers to the Russian Federation Government.