Yukos handed $4.2-bn tax bill
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MOSCOW: Tax authorities in Russia have handed Yukos, Russia&#39;s largest oil producer, a $4.2-billion tax bill for 2001, higher than the $3.
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Russia&#39;s Tax Ministry yesterday charged OAO Yuganskneftegaz, the biggest production unit of OAO Yukos Oil Co., with 27.8 billion rubles ($951 million) in unpaid taxes for 2002, a Yukos official said.
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Shares in Russian oil giant Yukos have fallen by 17.5% after the government hit the company with a fresh back-tax bill of $10bn (Â£5.
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More than 75 percent of the beleaguered Yukos oil company's 2000 tax debt has been recovered from the company, a Justice Ministry official was quoted as saying Wednesday.
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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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Russian oil major YUKOS on Monday cut  its oil output forecast for this year by 4.5 percent and said  it would slash capital expenditure by more than a third due to  its tax dispute with the state.
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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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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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The Tax Ministry increased its 2001 back tax bill against the oil giant Yukos to $4.1 billion on Friday, bringing its total tax claims against the company to $7.
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Russian oil major YUKOS (YUKO.RTS: Quote, Profile, Research) is prepared to pay $8 billion in tax liabilities by July 2006 to avoid bankruptcy, YUKOS Chairman Viktor Gerashchenko said on Thursday.
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Beleaguered Russian energy giant Yukos has warned that it will not produce as much oil as expected this year. It blames bailiffs who are draining its bank accounts to pay its potentially ruinous tax bill.
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Russia sets a date and price for the auction of embattled Russian oil giant Yukos' main unit, as it seeks payment of a massive tax bill.
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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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Russia's tax authorities handed Yukos, Russia's largest oil producer, a 4.2-billion-dollar (3.44-billion-euro) tax bill for 2001, higher than the 3.4-billion-dollar sum that company officials expected, an official statement said.
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Russia's justice ministry said that Yukos has paid three-fourths of its 2000 tax bill but still had billions more in outstanding debts that analysts said would require sales of its assets.
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Yukos won a stay of execution when a Russian official said its main production unit will have three months to scrape up cash to cover a crushing tax bill that could otherwise bury the wounded oil giant.
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Yukos is in the process of selling a 56-percent stake in a Siberian natural gas company to the Anglo-Russian joint venture TNK-BP in a bid to pay off its crushing tax bill, Western oil sources and media reports revealed.