Oil Company Forced To Pay $667M In Back Taxes

Law360, New York (August 10, 2007, 12:00 AM EDT) -- A Moscow court on Friday reportedly upheld a 17 billion ruble ($667 million) back-tax claim against RussNeft, thus adding to the 3.4 billion rubles ($134 million) the Russian oil company was already forced to pay last month.

Several top executives at RussNeft, including its former president Mikhail Gutseriyev, have also been charged with tax evasion and other illegal business practices, according to the Russian news agency Prime-Tass.

Further complicating matters is that the Moscow court granted a request to freeze RussNeft's assets last month.

“In proceeding...
To view the full article, register now.