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Polymetal to Pay $27 Million of Additional Taxes on Court Ruling

Polymetal International Plc (POLY), a Russian gold and silver producer, will pay 883 million rubles ($27 million) in additional taxes for 2007 after Russia’s Supreme Arbitration Court ruled in favor of tax authorities, the company said in a regulatory filing today.

Separately, the London listed company said it now controls 100 percent of OAO Polymetal, its Russian unit.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at

To contact the editor responsible for this story: John Viljoen at

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