More Dosh in the War Chest - positive news12 Jan 2024 11:25
Morning all actual invested rather than the infested
Re posted from Ortex yesterday as the whole positive thread seems to been removed
perhaps
Bot smart circus brigade couldn’t take anymore leathering on the ropes after talking out of their backsides for months .
Anyhow -
(Alliance News) - Eurasia Mining PLC on Thursday said its subsidiary Kosvinsky Kamen CJSC has won a litigation settlement relating to a mining tax claim against the tax authorities in the Supreme Court in Moscow.
The London-headquartered, mining and mineral exploration company, formerly focused on Russia said tax authorities applied a 3.5% tax rate on minerals that were already taxed at 6% or more. This followed an increase in the tax rate for certain minerals from 1% to 3.5% in order to unify the mining tax rate in Russia.
The firm said the increased tax rates pushed up Kosvinsky's tax charge to 22.75%, where it had already been paying 6.5%.
Eurasia said it challenged the "misinterpretation of the laws" by the authorities, and began a litigation process.
The process was unsuccessful in the lower court, but Eurasia said it challenged the decision, and has thus been successful in the Supreme Court.
As a result, the firm said it will be repaid the overpayments in full, with interest to be set by the central bank, covering a three-year period.
It noted that it has received GBP480,000 in a first tranche payment, giving it a cash position of GBP989,000 at December 31, giving it sufficient capital to meet its obligations up to the third quarter of 2024.
Chair Christian Schaffalitzky said: "We are delighted to have successfully won the litigation at the top level of the Supreme Court and we are extremely grateful to our in-house team and our advisers from Pepeliaev Group who assisted us on this matter."
Eurasia shares rose 11% to 2.05 pence each on Thursday afternoon in London.
Which ever way you cut it it’s positive news & more dosh in the war chest .
All invested await the potential asset sale
Rums & dosh transfers all Round
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