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  Wednesday, February 26, 2020
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TNK-BP Holding, the holding company for Russian-British joint venture TNK-BP [RTS:
TNK-BP Holding, the holding company for Russian-British joint venture TNK-BP [RTS: TNBP], has received back tax claims for 6 billion rubles ($250 million), business daily Vedomosti said on Wednesday.

The tax claims for 2004-2005, some of which TNK-BP is challenging in court, relate to almost all taxes charged in Russia, including profit tax, VAT and land tax. However, the largest 231 million ruble ($9.6 million) demand relates to the payment of the mineral extraction tax, Vedomosti said.

TNK-BP paid mineral extraction tax on oil cleaned of water and admixtures (termed 'net weight' in the oil industry), while the tax authorities calculate the tax proceeding from the crude's 'gross weight', meaning crude supplied to the Transneft pipeline system, Vedomosti wrote.

TNK-BP has already set aside funds for extra tax payments, the paper wrote.

In 2006, TNK-BP had to pay almost $1.5 billion to the federal budget in back taxes for 2002-2003, Vedomosti said.

Meanwhile, TNK-BP officially confirmed on Wednesday that it had received $250 mln back tax claims for 2004-2005.

"The sum of tax claims for 2004-2005, including penalties and fines, stands at 6 billion rubles," TNK-BP spokesman Alexander Shadrin said.


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