Photo: Nadav Anker
Arcadi Gaydamak
Photo: Nadav Anker

Gayadamak said to be worth USD 1 billion

Russian oligarch admits to having USD 1 billion in assets, according to deal signed with Tax Authority

How much is Arcadi Gaydamak worth? The Israel Tax Authority seems to have accurate estimates of the oligarch's wealth. Gaydamak contributes NIS 10 million (USD 2.3 million) each year in taxes to Treasury coffers.


Yedioth Ahronoth has received a tax agreement signed between Gaydamak and the Tax Authority five years ago.


In the agreement, Gaydamak reveals that the net worth of his assets abroad is USD 1 billion. The State agreed not to make Gaydamak's tax payment available to any third party, especially French authorities who want him indicted to stand trial for illegal arms dealing charges.


Gaydamak provided the State with the opinion of a French legal expert, according to which the allegations against him do not constitute a criminal offense which could justify the legal procedure launched against him in France.


The agreement also reveals details of a bid by Gaydamak in 2003 to invest USD 600 million in the Israel Corporation owned by the Ofer brothers.


Under the agreement with the Tax Authority Gaydamak pays 50 percent of profits made through his business dealings in Israel. No taxes are collected for profits made through funds held by Gaydamak in foreign countries.


Gaydamak and the Tax Authority refused to comment on the report.


פרסום ראשון: 02.05.07, 08:16
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