New hearings for PwC Russia

A Moscow court has ordered a fresh hearing into the charges that
PricewaterhouseCoopers Russian firm evaded millions of dollars in tax.

The company had appealed a conviction that it had failed to pay 243 million
rubles (£4.6m) in taxes by falsely declaring it’s hiring of non-Russians and
inaccurately reporting auditing services for nonresidents.

The announcement follows the firm’s withdrawal of its entire 10-year audit
series for Russia’s largest oil producer, Yukos, after it was convicted for
evading tax.

Yukos was broken up and sold to state-controlled energy groups after being
served with a claim for about £13.5bn in back taxes three years ago.

In a separate case in March, PwC Russia was found guilty of violating
professional standards for audits it carried out between 2002 and 2004.

At the time, the firm said a new investigation by the prosecuting office
showed that the company had not properly disclosed its relations to certain oil
trading firms, the

The court, which is to re-examine the charges, has not yet set a date for the
new hearing.

Further reading:

PwC still in love with Russia

Decade’s worth of Yukos audits withdrawn

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