BREAKING NEWS ~ Russian court upholds tax penalties against Yukos

AP is reporting that a Moscow court has ruled that oil giant Yukos must pay $1.4 billion in fines and penalties on their $4.1 billion back tax bill for 2001.

UPDATE: The Moscow Arbitration Court Monday dismissed a request by Yukos lawyers seeking the appointment of a new judge in the case and ruled that the oil company must pay an additional $1.4 billion in fines and penalties on its 2001 $4.1 back-tax bill. Yukos also must pay a $3.4 billion tax bill for 2000 by the end of the month. Additionally, last week, its main subsidiary Yuganskneftegaz was given a separate tax bill for 2002 totaling nearly $1 billion. AP has more. The Russia Journal has continuing coverage of Yukos' court battles.

 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.