Monday, January 24, 2005

This will help business?

The tax authorities are at it again in Russia. Japan Tobacco Hit With $85M Back Tax Bill

Japan Tobacco International, one of the largest foreign investors in Russia, said Friday it had been served an $85 million bill for back taxes and fines, the latest in a string of similar claims against major companies.

The authorities say it is a routine audit but for the year 2000. Will there be more
routine audits for the later 3 years?

This seems to be happening with more frequency and can't help but hurt when companies start rethinking their investments in Russia or other companies pass on it.


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