MOSCOW, April 24 - RAPSI, Sergei Feklyunin. The Supreme Commercial Court has again dismissed Holding-Credit bank's appeal against the lower courts ruling, ordering the payment of $67.8 million for VAT evasion.

The court upheld the judgments passed by the Ninth Commercial Court of Appeals and the Moscow District Federal Commercial Court.

The tax inspectorate charged Holding-Credit bank 1.125 billion rubles ($38.1 million) in additional tax for 2006. The bank was also ordered to pay 655.68 million rubles ($22.2 million) in penalties and penalties for late tax payment.

The tax inspectorate found that the bank had evaded VAT payment in dealings with precious metals.

Holding-Credit bank was founded in 1994. It engages primarily in loans, deposits, and consumer lending, as well as transactions involving promissory notes and foreign currencies.