Swedish Cosmetics Co. Confirms Russian Tax Search

Law360, New York (August 5, 2014, 1:54 PM EDT) -- Swedish makeup company Oriflame Cosmetics SA on Tuesday confirmed that Russian police have searched the company's Moscow offices over a tax investigation launched several years ago.

Oriflame, which sells cosmetics directly to consumers, is under investigation for 3 billion rubles ($84 million) in allegedly unpaid taxes between the years 2006 and 2010, according to Russian media. The company stated that the police raid was a surprise because it has been cooperating with authorities. The investigators haven't yet reached a decision.

"Several independent local and international experts have confirmed that Oriflame’s tax practices are in accordance with applicable local and international legislation,"...

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