Word: taxed
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...year ago, Mikhail Khodorkovsky, a billionaire who built Yukos into an energy powerhouse, was arrested and put on trial for alleged fraud and tax evasion, charges he says were trumped up. Since then, Yukos has been hit with a $24 billion bill for back taxes, and the government announced in November that it will auction off the company's most valuable subsidiary, Yugansk Oil & Gas, on Dec. 19 to pay the tax bill - a move Yukos ceo Steven Theede lambasted as "government-organized theft to settle a political score." The Kremlin set the starting price for the auction...
...Many in Moscow expect the Yugansk auction to be just the beginning of a final carve-up of the company. Yukos is trying to stop the forced sale, which violates Russian statutes stipulating that non-core assets be sold first in the event of tax claims. The firm has launched legal proceedings against the Kremlin under an international energy charter and says it will sue the winner of the Dec. 19 bidding. "This has nothing to do with taxes and everything to do with expropriation," argues Robert Amsterdam, a Toronto-based lawyer for Khodorkovsky...
...Yukos is unable to pay its tax bills because its accounts have been frozen, making it hard to pay suppliers and staff as well. In early November, authorities issued an arrest warrant for the company's chief lawyer, Dmitry Gololobov. Last week, the firm's chief financial officer, Bruce Misamore, fled the country along with other top management, citing fear for their personal security. And the Yugansk auction is scheduled the day before a shareholder vote called to decide whether to file for bankruptcy protection; a principal reason Yukos hasn't already done so is that a majority...
...that would last long into the future. Like a Republican New Deal, conservative legislation passed by a Republican Senate free from the threat of filibuster could permanently and profoundly alter our nation’s character for years to come. From conservative Supreme and District Court judges to conservative tax policy, little is out of the question with an unrestrained, Republican-dominated Senate...
Even Harvard is not required by the Internal Revenue Service to report the salaries of the management president and five highest-paid employees until next May, when the management company files its tax return for fiscal year 2004. But in an interview yesterday, Jack R. Meyer, the management company president who earned $7.2 million last fiscal year, said the University prefers to announce compensation soon after endowment results are released to avoid “a major disconnect between the numbers and the performance...