YUKOS COMES OUT WITH NEW SCHEME FOR TAX BILL SETTLEMENT

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MOSCOW, July 12 (RIA Novosti) - Russian government agencies are now considering a tax bill settlement scheme proposed by the embattled oil giant Yukos, a source in the government reports. Parallel with that, they are examining Finance Minister Alexei Kudrin's note with a proposal to dwell on the idea of setting up an international investment bank.

Both proposals are currently under consideration at relevant departments of the government, the source said, but stopped short of revealing any details. There is no point elaborating with no decisions yet in place, he explained.

Yukos, facing a $7 billion bill for 2000 and 2001, has offered paying $8 billion in back taxes for 2000 to 2003 within the next three years.

Earlier, former Yukos CEO Mikhail Khodorkovsky, now in jail on fraud and tax evasion charges, proposed to the company's Board of Directors that it use major shareholders' stakes to settle the government's tax claims.

In June, the top management of Yukos presented a tax bill settlement scheme to the government and the company's major shareholders, a Yukos official told RIA. According to our interviewee, that scheme envisaged settling the dispute out of court by rescheduling Yukos' tax debt, selling some of its assets into government ownership, and making reshuffles in its management.

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