Abramovich accused of dodging millions in tax through yacht scheme | Euronews Newsletter Events Loader Newsletter Events Loader Loader Search

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ADVERTISEMENT Russian oligarch Roman Abramovich saved millions of euros through a scheme which falsely classified five of his superyachts as commercial vessels, an investigation has found. The strategy devised by his network allowed the billionaire to avoid paying VAT in European countries where his boats received services like refuelling. Private vessels are subject to the sales tax, which is typically levied at around 20% by EU members. However, five of Abramovich’s superyachts — including