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. Last Updated: 07/27/2016

MTS Claims $46M Back Tax Victory

The country's largest mobile phone firm, MobileTeleSystems, has won an arbitration court case against the Federal Tax Service over $46 million in back tax claims, an MTS official said Monday.

The official said the court had ruled that tax claims against the firm for a total of 1.22 billion rubles ($46.4 million) for 2003 and 2004 were illegal.

In September, the firm said it had received back-tax claims totaling 1.28 billion rubles, which arose due to what tax authorities said was incorrect calculation of settlements with content providers, foreign exchange taxable gains and interconnect settlements.

It was not immediately clear what happened to the remaining small part of the claim.

The country's tax authorities have hit many companies with large back tax claims, the largest being an enormous $33 billion bill levied against oil major Yukos that effectively bankrupted the company.