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Court upholds decision to charge a Yukos subsidiary $246 million in back taxes

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MOSCOW, August 30 (RIA Novosti) - The arbitration court of appeals has upheld the decision of the Federal Tax Service to charge Samaraneftegaz, a subsidiary of the embattled Yukos company, $246 million in back taxes for 2003.

Last December, the Federal Tax Service decided to charge Samaraneftegaz $168.8 million in back taxes, $32.9 million in interest, and $45.7 million in fines. The company is accused of tax evasion through Yukos subsidiaries based in tax-exempt areas (the Evenki autonomous area).

Samaraneftegaz appealed the decision in Moscow's arbitration court, and the court partially granted the request, reducing the claims from $246 million to $105 million. Unsatisfied with the court's decision, Samaraneftegaz lawyers and the tax officials then took the case to an appeals court. The court upheld the tax authorities' decision to charge the company $246 million in back taxes today.

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