Russian car maker AvtoVAZ does not have to pay tax authorities fines of around 12 billion roubles ($430m), say Russian media reports (11-9-00) citing a ruling by Moscow’s arbitration court.
Between November and December 1999, the Tolyatti-based firm – which produces the Fiat-based Lada car – was investigated by tax authorities for tax payments made last year.
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After objecting to a demand by tax authorities for payment, another tax audit was undertaken. In June, the tax police informed the factory to pay fines totalling 12 billion roubles, now quashed.
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