This file photo of August 31, 2005 shows Russneft President Mikhail Gutseriev.
Photo: Valery Levitin
| Other Photos |
 |
|
 |
Russneft Neared Tax Settlement
Tax officers called back yesterday three of seven claims on expropriating the stocks of Russneft. The claims had been based on Clause 169 of the RF Civil Code, but the Supreme Arbitration Court banned from referring to this clause in tax business. At the same time, Russneft agreed to a sizeable portion of 20-billion ruble claims for 2003 through 2005. Settlement of the conflict with authorities will enable to finalize the deal that Basic Element of Oleg Deripaska announced far back in August of 2007.
The Arbitration Court of Moscow terminated three of seven actions to expropriate roughly 80 percent of Russneft stocks. Those actions were initiated under Clause 169 of the RF Civil Code and the Supreme Arbitration Court banned April 10 from referring to that clause for tax purposes. According to the Supreme Arbitration, tax dodgers could be brought to account only under the Tax Code.
The terminated actions extended to the deals of AMI-Invest and Mlada (9.6 percent in Russneft), Garant-Invest and Milanfo (9.7 percent), Nordfest and Spectrum (20 percent). The vital thing is that the Federal Tax Service itself called back the suits, reasoning that it would bring stock vendors to tax account. The respective resolution dates July 29.
Tax officers didn’t specify the amount of claims lodged against Russneft. A source close to Federal Tax Service said presenting tax claims to the shell firms makes no sense as they usually have no assets.
Ending the conflict with authorities is needed to complete the deal and change Russneft owner. Basic Element of Oleg Deripaska declared the intention to buy out that company far back in August of 2007. But in addition to the stock-expropriation actions, Russneft is yet to settle the tax claims of roughly 20 billion ruble for 2003 through 2005. According to the sources, Russneft has agreed to the better part of the claims, as such acknowledgement is the vital condition for finalizing that deal.
www.kommersant.com
All the Article in Russian as of July 31, 2008
|
|
|
