Turkey Hits BP With $275M Tax Fine

Law360, New York (March 4, 2009, 12:00 AM EST) -- A unit of energy giant BP PLC has been smacked with a fine of about $275 million dollars by the Turkish government over an alleged infraction related to tax-exempt fuel.

The company has done nothing wrong and will fight the fine, said BP spokesman David Nicholas on Wednesday.

The Turkish tax authorities sent a letter to BP, which the company received late yesterday, demanding 474 million lira for the alleged tax violation, Nicholas said. The fine relates to tax-exempt fuel for vehicles that carry products out...
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