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Petition to review car manufacturer's $6 mln tax dispute dismissed

12:38 21/10/2011

MOSCOW, October 21 - RAPSI, Dmitry Shchitov. The Supreme Commercial Court has refused to refer to its presidium a judgment invalidating a Renault subsidiary's $6 million supplementary tax charge for review, the court told the Russian Legal Information Agency (RAPSI).

The application for reviewing the lower courts' rulings in the dispute was filed by a tax inspectorate. The inspectorate challenged the St. Petersburg Commercial Court's decision of May 25, 2010. Then the court sided with Avtoframos automotive company and quashed the December 31, 2009 decision and the tax inspectorate's claim of March 16, 2010 additionally charging the company 133.6 million rubles in profit tax, 29.09 million rubles in penalties and 28.9 million rubles in fines.

The tax inspectorate decided to charge additional tax after it concluded that the company unlawfully overstated its production and sales costs and reserved 602.68 million rubles ($19 million) for future warranty repairs and servicing.

Avtoframos was established on July 2, 1998 as a joint venture of Renault and Moscow government on a parity basis. The reorganization on December 26, 2006 raised the Renault interest to 94.1 percent.

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Petition to review car manufacturer's $6 mln tax dispute dismissed

12:38 21/10/2011 The Supreme Commercial Court has refused to refer to its presidium a judgment invalidating a Renault subsidiary's $6 million supplementary tax charge for review.
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