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...Since President Vladimir Putin came to power, the Russian economy has staged a dramatic comeback after its near collapse in 1998. But along with red tape and corruption, companies face political and government meddling, primarily in the form of a highly unpredictable tax-enforcement policy. The most battered victim to date is Yukos, the former Russian oil giant that is currently in its death throes after being hit with multibillion-dollar back-tax claims that its erstwhile owners say were part of a Kremlin campaign against them. A Moscow court is expected to deliver its verdict this week on Mikhail...

Author: /time Magazine | Title: Hurry, While Supplies Last! | 4/24/2005 | See Source »

...Foreign firms, too, are vulnerable. Russian tax authorities recently slapped BP's oil joint venture in Russia, TNK-BP, with a $1 billion back-tax bill for 2001. The move has caused dismay at BP in London and prompted Chief Executive John Browne to schedule a trip to Moscow last week, where he met personally with Putin. Meanwhile, the Japanese tobacco company JTI, which makes Winston and Camel brands at a $400 million state-of-the-art factory it built in St. Petersburg, is embroiled in a furious court battle with authorities over a more than $80 million tax demand...

Author: /time Magazine | Title: Hurry, While Supplies Last! | 4/24/2005 | See Source »

...constitution to give more power to Italy's regions. Voters in the underdeveloped south, where the UDC and the AN draw much of their support, fear that will mean cuts in state subsidies. But another coalition partner, the Northern League, touts devolution as a way to lower taxes on the prosperous north. Berlusconi has tried to satisfy these divergent interests by giving something to everyone, including €6 billion in income tax cuts along with increases in public spending. Result: a growing budget shortfall, which the European Commission warns will equal 3.6% of Italy's GDP in 2005, well above...

Author: /time Magazine | Title: Waving or drowning? | 4/24/2005 | See Source »

...What I found so funny and interesting was that the very first definition [in Merriam-Webster's] is "causing a sharp stinging." What better description of children! They really tax you, push you to grow mentally. I felt smarter primarily because I could feel myself learning all kinds of new things at what seemed to me like an unprecedented rate. I was learning, and still am learning lessons every day about what we think of as "emotional intelligence"--how to understand and manage one's own and others' feelings. And I didn't get thrown so much by distractions, because...

Author: /time Magazine | Title: The Mommy Brain | 4/24/2005 | See Source »

...don’t think it’ll be a physical drain,” Mann said. “They’re games that everyone’s looking forward to. Looking back I can’t ever recall there ever being any physical tax taken on the team...

Author: By Lande A. Spottswood, CRIMSON STAFF WRITER | Title: Baesball Revs Up For Beanpot Classic at Fenway | 4/20/2005 | See Source »

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