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VTB issues a guarantee to a Sukhoi Group company

3 November 2011

© RIA Novosti, Aleksey Pitalev

JSC VTB Bank issued a VAT recovery guarantee to the Komsomolsk-on-Amur Aircraft Production Association named after Yu. A. Gagarin (JSC KnAAPO). The guarantee was delivered to Interregional Inspectorate for Largest Taxpayers No.8 of the Federal Taxation Service of Russia in St. Petersburg.

The RUB 526.1 mln guarantee was issued under the credit limit totaling RUB 7.5 bln set for the company. As a result, the company will recover the VAT out of the budget ahead of time, before the tax authorities audit the tax return data to be provided by the company.

JSC VTB Bank and JSC KnAAPO have maintained cooperation since 1995. The company uses a wide line of VTB Group products: loans, documentary settlement, foreign economic trade servicing, account balance management, custody operations, export insurance, leasing, and payroll services.

For reference:

JSC KnAAPO is the largest aircraft-manufacturing division of the Sukhoi Group specializing in design and production of Su-series aircraft, which include fifth-generation combat aircraft system. The company is implementing the program to produce the Sukhoi Superjet 100 family. Its staff amounts to 13.5 thousand people.


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