"VympelCom" Coughs Up / News / News agency Inforos
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"VympelCom" Coughs Up

"VympelCom", one of Russia's biggest cellular communication operators, has paid off its tax debt to the State for 2001. The Company has transferred $17.7 million to the budget, including $10.3 million in underpaid taxes and $7.4 million in penalties and fines, says Yulia Ostroukhova, the Company's press secretary.

Actually, financial claims against the Company were much higher. At the beginning of December 2004 the federal tax police had sent "VympelCom" an order to pay about $150 million based on an audit for 2001. "VympelCom" managed to legally cut down the amount of tax claims.

However, the Company still remains indebted to the budget. In 2002, according to tax police calculations, "VympelCom" was short of paying $20.9 million to the treasury. The Company has already submitted a new protest to taxation authorities.
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