Fresh tax claims hit Yukos
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Shares in Yukos, the Russian oil group beset by difficulties, dropped sharply yesterday after reports that the authorities had launched fresh tax claims against it, totalling up to $7 billion.
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MOSCOW Yukos said Wednesday that the Russian tax authorities had sent a bill for back taxes and penalties totaling nearly $1 billion to its largest subsidiary, Yuganskneftegas.
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Embattled Russian oil giant Yukos was ordered to pay over â¬1.1bn in fines and penalties today as part of a â¬3.31bn back-tax claim for 2001.
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The troubles of Yukos drive up the price
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President Vladimir Putin told big businesses in Russia on Tuesday to pay their taxes but also sought to allay fears the state may launch major new probes after tax claims have driven YUKOS toward ruin.
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Yukos warned yesterday that it is no longer able to pay staff wages and that oil production could stop any day. The latest problems to beset Russia&#39;s biggest oil company sent the price of crude racing ahead again on the global markets.
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Despite reports that the beleaguered oil giant Yukos could receive yet another back tax bill in addition to the &#36;7.5 billion in claims it already faces, the company's stock rallied slightly Thursday on a new statement by President Vladimir Putin that he is not seeking the company's bankruptcy.
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Russian officials demanded up to $10 billion in additional taxes from Yukos and its soon-to-be-sold main unit on Monday, pushing the debts of Russia&#39;s embattled No.
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The Russian Tax Ministry has sent Yukos a new $6.7 billion for 2002, while the oil giant&#39;s biggest subsidiary -- Yuganskneftegaz -- has been hit with new claims amounting to more than $3 billion for 2001 and 2002.
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3 September 2004 -- Russia&#39;s tax authorities have given Yukos another bill for back taxes that is higher than the oil company expected.
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Shares in the Russian oil giant Yukos lose more than a fifth of their value, as the company faces a tax fine of $2.5bn.
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YUKOS has reported a net loss of US$2.65 billion (£1.45bn) for the first half of 2004, a period of record oil prices, prompting speculation that the Russian oil firm is on the verge of declaring bankruptcy.
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MOSCOW  - Russia&#39;s embattled Yukos oil giant faced additional tax claims after authorities said the firm was suspected of underpaying 6.7 billion dollars for 2002, Interfax reported.
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Shares fell Thursday, led by Yukos, which is facing $20 billion in outstanding tax claims.
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Mobile operator Vimpelcom is the latest Russian firm to be hit with a heavy bill for back taxes.
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Oil giant Yukos has its tax bill for 2001 upped by Russia's tax ministry, a move that may push it closer to bankruptcy.
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MOSCOW Vimpel-Communications, the second-largest Russian mobile phone company, after Mobile TeleSystems, has been hit with a surprise claim for $157.8 million in back taxes, prompting fears of another Yukos-style tax investigation.