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North-West Telecom

March 11, 2008

OJSC North West Telecom has contested the tax claims for 2003-2004 in all the courts

On 11 March 2008, at a hearing in the Moscow District Federal Court of Arbitration, the Interregional Inspectorate of the Russian Federal Taxation Service (IIFTS) for Major Taxpayers N7 was refused its cassation appeal with regard to the tax claims against OJSC North West Telecom for 2003-2004, amounting to 584.7 million roubles.

Thus, OJSC North West Telecom has become the first company in the Svyazinvest Group to have proved in all the courts that the additional taxation charges, fines, and penalties for 2003-2004 were unfounded, and therefore has re-affirmed its reputation of a law-abiding tax-payer whose activity is firmly within the bounds of the active legislation.

 

A reminder: on 11 December 2006 the Interregional Inspectorate of the Russian Federal Taxation Service (IIFTS) for Major Taxpayers N7 issued a decision that followed a scheduled inspection of the activity of OJSC North West Telecom for 2003-2004. The inspection resulted in tax claims of 584.7 million roubles, including 437.2 million roubles in taxes and 147.5 million roubles in fines and penalties.

On 2 June 2007, after hearing the claim by OJSC North West Telecom , the first instance Court of Arbitration declared the additional taxes of 296 million roubles (68% of the total sum of tax claims) to be unfounded.

On 19 November 2007, the second instance Court of Arbitration, namely the Ninth Arbitration Court of Appeal, satisfied the appeal by OJSC North West Telecom and declared the additional tax charges of 141 million roubles (32% of the total sum of tax claims) to be unfounded.

 

 

 

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