MTS hit by tax claim

22 Jul 2008

Russia’s Federal Tax Service is claiming RUB1.13 billion (USD49 million) in back taxes from the country’s largest cellular operator by subscribers, Mobile TeleSystems (MTS). The claim relates to 2005-06, with MTS said to have made incorrect calculations relating to certain taxes. The RTax Service claim includes around USD6 million of fines and penalties, according to a report from Ros Business Consulting. MTS says it intends to challenge the regulator’s ruling.

Russia, Mobile TeleSystems (MTS)