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12/07/2010

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NATO Has Secret Plan to Defend Baltics: WikiLeaks

Reuters
NATO has drawn up secret plans to defend the Baltic states against any Russian threat, Britain's Guardian newspaper reported on Tuesday, citing U.S. diplomatic cables obtained by WikiLeaks.

IRC Plans $400M Ore Plant to Supply China

Bloomberg
IRC, a Russian mining company listed in Hong Kong, said Monday that it commissioned China National Electric Equipment Corporation to build a $400 million processing plant to supply iron ore to Asias largest economy.

Sberbank Q3 Net Up 10-Fold

Bloomberg
Sberbank said Monday that it increased third-quarter profit more than 10-fold as it boosted lending and decreased the share of bad loans.

Kopeika Sold to X5 For $1.1Bln Plus Debt

Bloomberg
X5 Retail Group, Russias largest retailer, agreed to acquire discount chain Kopeika for 35 billion rubles ($1.1 billion) in cash to reinforce its market leadership as Wal-Mart Stores still seeks to enter the country.

Electro-Punk Barto Is a Band With an Ideology

At a recent concert, electro-punk group Barto did not have a single copy of its new album Intelligence, Conscience and Honor not because of a promotion failure, but rather a police investigation into one of the bands songs for signs of extremism in its lyrics, a measure that pushed back the albums release.

The Best News Rubles Can't Buy

Dmitry Medvedev, emancipator of Russias media. That may well be how the current president will go down in history. In this years state-of-the-nation address, he signaled that the government would begin selling off its extensive media holdings.

Tax Authorities Must Identify Actual Tax Liabilities, Not Add Later Tax Charges

FBK-Legal
In 2010, the Presidium of the Supreme Arbitration Court of the Russian Federation adopted a series of rulings Ruling of the Presidium of the Supreme Arbitration Court dated July 6, 2010, No. 17152/09, Ruling of the Presidium of the Supreme Arbitration Court dated June 26, 2010, No. 1997/10, and others with the following content.

Tax Authorities Should Strictly Follow Procedure

FBK-Legal
During a tax inspection, any breach of procedure when considering materials can serve as a basis for rendering invalid the inspections decision to bring the taxpayer to responsibility.

Is It Worth Paying Income Tax in Russia?

Beiten Burkhardt Moscow
In 2001 the complicated progressive structure of individual income taxation in Russia was replaced with a flat tax rate of 13 percent for tax residents and 30 percent for non-residents. This price to be paid by individuals for working in Russia is relatively low in comparison to most developed countries.

Do Administrative Appeals Drive Tax Litigation Down?

Salans
The mandatory pre-court procedure for settlement of tax disputes has been in effect since Jan. 1, 2009. This rule means that taxpayers who disagree with a tax authoritys decision following a tax audit must appeal the decision to a higher tax authority, if they plan to take subsequent court action to defend their rights.

Defense Against Repeat Audits

Salans
Tax audits are never the most pleasant experience for taxpayers, irrespective of how clean they may be. Any tax audit will create additional burdens on taxpayers going about their normal business activities as they put up with the tax authorities actions.
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