ARTICLE · 29 JANUARY 1997
Priority Of Tax Payments
RussiaAccounting and Audit
(Tax News Reporter Week Ended 28 January 1997)
After an official protest of the Ministry of Finance, the Supreme Court has suspended its decision of 10 December 1996, in which it ruled that the joint letter of the Ministry of Finance, the Central Bank and the State Tax Service of 22 August 1996 is unconstitutional and does not have legal force. According to this August letter, outstanding tax payments have a sole priority over other liabilities such as wages, notwithstanding the provision in the Civil Code that tax payments have only a third priority. This means that the August letter will not be repealed until a final decision is taken by the Supreme Court.
Letter of the Supreme Court of 26 December 1996 No. GKP196-325-339
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