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Appeal on $9.71mln tax claims against mining company to be heard in March

17:19 03/02/2012

ST. PETERSBURG, February 3 - RAPSI. A commercial court will hear on March 5 the appeal against the invalidation of tax claims against Kola Mining and Smelting Company, Norilsk Nickel's subsidiary, amounting to a total of $9.71 million, the Supreme Commercial Court's website reports.

The tax agency disputes the Moscow Commercial Court decision of August 31, which was upheld by November resolution of the Ninth Commercial Court of Appeals.

The reason for the dispute was the tax service's decision adopted in July 2010 following the inspection of the smelting company's payment of taxes.

According to this decision, the company was accrued additional payment taxes amounting to 26.27 million rubles ($869,770), penalties under profit taxes worth 547,000 rubles ($18,110), punitive sanctions under profit taxes worth 2.83 million rubles ($93,700), as well as VAT worth 234.4 million rubles ($7.76 million), penalties under VAT worth 12.35 million rubles ($408,900) and punitive sanctions under VAT worth 16.92 million rubles ($506,200).

The first instance court came to a conclusion that the tax service's claims do not correspond to the corresponding articles of the Tax Code and the inspection's decision violate the interests of Kola Mining and Smelting Company.

Sulfide impregnated ores, containing nickel, copper and other useful components are produced at Kola Mining and Smelting Company's three mines

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Appeal on $9.71mln tax claims against mining company to be heard in March

17:19 03/02/2012 A commercial court will hear on March 5 the appeal against the invalidation of tax claims against Kola Mining and Smelting Company, Norilsk Nickel's subsidiary, amounting to a total of $9.71 million.
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