MOSCOW, 7 October 2004 — Russia’s Justice Ministry said yesterday that Yukos had paid three-quarters of its 2000 tax bill but still had billions more in outstanding debts that analysts said would require sales of its assets.
Authorities troubled the oil giant further by hitting it with yet another billiondollar-tax bill, a sign the state meant to push its case to the limit - possibly splitting Yukos up between state-friendly firms.
Yesterday’s news reports quoted the Justice Ministry as saying Yukos had paid 75 billion rubles ($2.57 billion dollars) of its 99 billion ruble tax bill for 2000.
Total tax claims against Yukos including 2001 — which include a contested court fee — add up to nearly $5.5 billion.
But that sum looked likely to increase yesterday after Interfax reported the Tax Ministry had slapped a further 27.8 billion rubble ($950 million) tax bill against Yukos and its largest operator Yuganskneftegas for 2002. Courts must still validate the claim.
Authorities had threatened to look further into Yukos’ accounts in a campaign that Russia’s largest oil producer claims was sparked by its managers’ foray into national politics.
Yesterday’s tax bill, if officially confirmed by the company, would mark the first tax probe against Yukos beyond the years 2000 and 2001.
All together, Yukos’ outstanding tax charges “clearly allows the court to sell Yukos assets to settle the tax liabilities,” the United Financial Group said in a research note.
