Deutsche Bank Under Scrutiny in Russia Over Tax Practices
- Lender says working with Russian tax authorities on matter
- Bank said to use foreign-exchange swaps to lower corporate tax
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Deutsche Bank AG, which last month settled charges that it helped investors launder money through its business in Moscow, remains under scrutiny in Russia over its tax practices.
“As part of an ongoing routine audit, Deutsche Bank is working with Russian tax authorities on matters relating to standard business operations that follow normal industry practice,” the Frankfurt-based lender said in an emailed statement on Monday.