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Russia Taxes Bloomberg Moscow Office,
by Tatiana Smolenskaya, Tax-News.com, Moscow
Tuesday, August 10, 2010
The Moscow office of US press agency Bloomberg has been assessed for RUB120m (USD4m) tax, including penalties, for the years 2006-2007, even though it considers that it has no permanent establishment in Russia.
Bloomberg is challenging the tax demand in a Moscow Arbitration Court. It claims protection under the 1992 double taxation treaty between Russia and the United States. The Treaty exempts US firms from paying taxes in Russia, provided their activities are of a ‘preparatory or auxiliary character’, or if the office only collects information or makes purchases on behalf of a parent company.
The Moscow tax inspectorate claims Bloomberg not only gathered information, but also produced a finished product, even selling it to Russian customers. According to the inspectorate’s findings as published by the arbitration court, Bloomberg’s offices employed about two dozen people, and the inspectorate used figures on expenses provided by Bloomberg and calculated notional revenue of more than RUB1bn (USD33.6m) over the two year period to reach a taxable profit.
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