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    LEGAL ACTION ON YUKOS' SUIT AGAINST TAX MINISTRY CEASED

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    MOSCOW, March 3, 2004. (RIA Novosti correspondent) - On Wednesday the Moscow Arbitration Court has ceased legal action on the lawsuit of Russian oil company Yukos to protect its business reputation against the Taxes and Levies Ministry and deputy minister Igor Golikov. The case was closed due to Yukos' withdrawal of the suit.

    In December 2003 the ministry presented the oil giant a report of tax inspection that found out taxpayer's violations resulting in the total of 98 billion roubles (including the fines).

    Early in 2004 Yukos sent in its objections to the accusations and on January 21st it filed a lawsuit on protection of its business reputation to the Moscow Arbitration Court.

    Yukos believed that the information released by the ministry on its violation of the tax legislation and tax underpayment was not true and could damage the company's business reputation.

    In its suit Yukos demanded that the ministry and Golikov should be obliged to refute the information by sending relevant letters to the Prosecutor General's Office, but later the oil company revoked the claim.

    When ceasing legal action on the case the court pointed out that it did not contradict the law and did not encroach on third persons' rights.

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