Production at Belwest threatened by tax dispute - footwearbiz: Leading

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Production at Belwest threatened by tax dispute

13/12/2012
Reports from Belarus say the biggest footwear manufacturer in the country, Belwest, may have to stop production in the coming days because the authorities in its home region, Vitebsk, have frozen the company’s bank accounts over a tax dispute.

Belwest, which manufactured 2 million pairs of shoes in 2011, also runs footwear retail outlets in Belarus, Russia and Latvia. It had plans to expand its shoe-store network extensively in 2012.

Vitebsk tax authorities claim the company is in arrears on taxes and penalties for late payment, which is the official reason for halting banking operations. However, Belwest insists it is up to date and has complained that it will be unable to pay salaries and buy materials and components from suppliers unless it is allowed access to its bank accounts.

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