Yukos to settle $1.7-bil of tax bill by end August

Yukos to settle $1.7-bil of tax bill by end August

Moscow (Platts)--23Aug2004


Russia's Yukos said Monday it expects to settle the government's $1.7-bil tax
arrears demand for the year 2000 by end-August, but a remaining $1.7-bil worth
of related fines and penalty interest will remain outstanding. "The company
anticipates that as a result of its voluntary payments, and the government
collection process, the entire amount of the court sanctioned additional 2000
tax bill ($1.7-bil) will have been paid by the end of August 2004," Yukos said
in a statement. 

"An alleged additional $1.7-bil for penalty interest and fines will remain to
be paid," the company added. To date Yukos has stumped up &700-mil of the 2000
tax charge. Tax collectors have bagged a further $800-mil..Yukos denies it is
guilty of tax evasion and continues to appeal against the 2000 tax assessment.
At the same time, Yukos is braced for further huge bills for taxes the
authorities say it dodged in 2001-2003.

This story was first published in Platts real-time news and market reporting
service Platts Global Alert
(http://www.platts.com/Oil/Real-Time%20Information/Global%20Alert/ ).

Please visit: www.platts.com

Their coverage of energy matters is extensive!!.