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Lawsuit on recovery of $18 mln from author's society postponed until February

16:14 25/01/2012

MOSCOW, January 25 - RAPSI, Natalya Belova. A commercial court postponed until February 24 the Russian Authors Society's application to cancel the tax inspectorate's decision to recover $18.26 million in VAT from the company, the Russian Legal Information Agency (RAPSI/rapsinews.com) reports from the courtroom.

Earlier, the court said the Federal Tax Service's inspectorate obligated it to transfer the sum to the budget as VAT arrears, tax on income received by a foreign organization from sources in Russia, penalties and fines.

According to the society's claim, the court suspended the tax body's decision before the judicial act concerning such disputes came into effect.

The society stated in its claim that the funds transferred to its accounts are not its property and are to be distributed to rights holders.

The society also stated that the recovery of $18.26 million may result in the non-execution or only partial execution of its obligation to pay royalties to over 26,000 rights holders.

The Russian Authors Society was established in 1993 as an organization to manage copyrights on a collective basis.

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Lawsuit on recovery of $18 mln from author's society postponed until February

16:14 25/01/2012 A commercial court postponed until February 24 the Russian Authors Society's application to cancel the tax inspectorate's decision to recover $18.26 million in VAT from the company.
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