Saturday, August 14, 2004

Yukos - Canadian Style

Sounds a lot like Yukos. Quebec rationale for a $1.4 billion (yes B) tax bill, payable immediately, for lost revenue due to cigarette smuggling.
In fiscal law, taxes claimed by the government have to be paid immediately, said Montreal attorney Guy Matte, a tax expert. 'It's considered public money, not yours.'The company can contest the judgment but has to pay first, Mr. Matte said. If it wins its appeal, then it would be reimbursed.

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