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UTK

December 28, 2005

UTK filed a claim to Arbitration court of Moscow

On the 26th of December UTK "UTK" PJSC registered a claim in Moscow Arbitration court demanding to declare invalid the part of the Decision of Russia’s Inter-regional Tax Inspectorate ? 7  relating to a RUR 916.9 mln back-tax claim issued by it to "Southern Telecommunications Company" PJSC.  

The back-tax and penalty claims relate to 2002-2003 reporting years and are based on the results of the scheduled traveling tax check. The tax check was performed from 5 April 2005 till 16 November 2005.

The bulk of a RUR 916.9 mln back-tax and penalty claim for 2002-2003 reporting years received by the Company   from Russia’s tax authorities are for taxes (RUR 677.4 mln).

The Company  does not agree with the claim of Russia’s Inter-regional Tax Inspection ? 7 and takes it to court. The Company considers prospect of its back-tax claim appeal to be positive and that it will be able to prove its case.

According to 2002 and 2003 performance results pretax profit of the Company  was RUR 3,408.2 million (RUR 1,743.1 mln in 2002 and RUR 1,665.1mln in 2003). The Company paid tax for profit in the amount of RUR 989 mln (RUR 411.4 mln in 2202 and RUR 577.6 mln in 2003)

"UTK" PJSC is an honest and law-abiding taxpayer and it is the first time that controlling bodies have presented the Company with such claims.In 2002 – 2003. the Tax Inspectorate of Russia and  Inter-regional Tax Inspectorate of the Krasnodar krai sent "UTK" PJSC letters of gratitude for sizeable tax payments to state budgets of all levels and for proper book-keeping and tax accounting procedures.

 

 

 

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