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IKEA's $16.4 mln lawsuit against tax service delayed until March 1

17:24 02/02/2012

MOSCOW, February 2 - RAPSI. The court has postponed on Thursday its hearing of IKEA MOS' lawsuit against the tax service to withdraw $16.4 million tax claims, the Russian Legal Information Agency (RAPSI/rapsinews.com) reports from the courtroom.

The lawsuit was postponed as the tax authorities presented numerous prime documents on the case, which IKEA's lawyers have yet to review. The court has given the company one month to study the materials and prepare their position.

It was earlier reported that the tax claims amount to 500 million rubles ($16.26 million). IKEA disputes the Federal Tax Service's April 30, 2010 decision to charge the company an additional 1.06 billion rubles ($34.49 million).

The Moscow Commercial Court partially upheld the lawsuit on December 14, 2010. The tax service's representatives, while commenting on the Moscow Commercial Court's decision, said the court validated half the tax claims, or 500 million rubles ($16.26million). The appeals court validated the decision.

Therefore, the Moscow District Federal Commercial Court upheld in August IKEA MOS' appeal. IKEA demanded that the lawsuit be satisfied in full. The cassation instance submitted the case for reconsideration.

IKEA MOS owns and manages the Mega shopping centers.

IKEA is the world's largest retail network of shops selling furniture and household items. It operates 11 IKEA shops and 13 Mega trade centers in Russia. The first IKEA store opened in Russia in 2000. The projected investments to commission Mega trade and entertainment complexes amount to an average of $120-300 million.

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IKEA's $16.4 mln lawsuit against tax service delayed until March 1

17:24 02/02/2012 The court has postponed on Thursday its hearing of IKEA MOS' lawsuit against the tax service to withdraw $16.4 million tax claims.
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