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Russia's Mirax faces over $18 mln in tax claims - paper

© RIA Novosti . Mihail Fomitchev / Go to the mediabankMirax Group
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The Russian tax authorities have demanded that a subsidiary of the Russian real estate developer Mirax Group pay over 560 million rubles ($18 million) in back taxes or face injunctive measures, including the seizure of its accounts and assets, RBK daily reported on Thursday.

The Russian tax authorities have demanded that a subsidiary of the Russian real estate developer Mirax Group pay over 560 million rubles ($18 million) in back taxes or face injunctive measures, including the seizure of its accounts and assets, RBK daily reported on Thursday.

The tax arrears of the Mirax subsidiary (Stroimontage) amounted to 412.5 million rubles ($13.5) as of late May, including arrears of profit tax and VAT payments, the paper said.

"The tax authorities resolved in early June to recover 93.4 million rubles [$3 million] and 73.7 million rubles [$2.4 million] from Stroimontage's accounts, bringing the total tax claims to Mirax Group's subsidiary to 564.3 million rubles," the paper said.

The articles of the Tax Code enumerated in tax claims allow tax authorities to seize the company's accounts and assets, the paper said.

"According to lawyers, the tax authorities will primarily seek to recover debts from the company's bank accounts," it added.

Mirax Group, however, has acknowledged only 162 million rubles ($5.3 million) in back taxes for 2009. The paper quoted a company spokesman as saying that Mirax paid over 2 billion rubles ($65.5 million) in taxes for 2009.

Mirax Group, owned by real estate tycoon Sergei Polonsky, is involved in high-profile development projects.

The company has faced serious financial difficulties since the global financial crisis struck Russia in 2008 and is saddled with an estimated $550 million in liabilities, including $120 million of overdue debt.

Before the financial crisis, Mirax was one of the most successful development companies in Russia. It is renowned for its luxury domestic and international housing and development projects.

 

MOSCOW, July 22 (RIA Novosti)

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