The Moscow Arbitration Court rejected appeals by Yukos and by the Tax Ministry. Russian president Vladimir Putin said earlier this month he opposes bankrupting Yukos.
Former chief executive Mikhail Khodorkovsky, Russia’s richest man was arrested last year on tax and fraud charges that he denies.
‘The company now will have to pay – the question is when and how,’ Tim Mccarthy, a fund manager at Moscow-based Troika Dialog Asset Management told Bloomberg.
‘The ball is in the tax collector’s court, and they have had a clear sign from Putin that the company should continue operations.’
Yukos shares fell 8.99 rubles, or 3.8%, to 230.01 today, after falling as much as 6.7% earlier.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
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