Sunday, 25 July 2010

Troubled developer Mirax faces $18 million tax bill

A subsidiary of Mirax Group has been ordered to pay over 560 million roubles ($18 million) in back taxes, or face the seizure of its accounts and assets.

However, the group disputes the claim, acknowledging only 162 million roubles ($5.3 million) is still owed.

The firm has been involved in high profile developments, including Moskva-Citi, but has run into difficulties during the financial crisis.

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