TaxAdministrationOil exec charged with massive $1bn tax evasion

Oil exec charged with massive $1bn tax evasion

A senior Russian oil executive is accused of a massive $1bn tax evasion

Russia’s interior ministry is understood to have accused a senior oil
executive who used to work for Tyumen Oil Company (TNK), before it joint
ventured with BP to create TNK-BP in 2003, of evading close to a massive $1bn
(?506bn) in taxes.

It is unclear whether the executive now works for TNK-BP – a spokesman for
the ministry’s Economic Security Department, declined to name the company and
the executive, saying it could compromise the investigation.

TNK-BP settled a case with Russia’s tax authorities in 2006, paying 30bn
rubles (?658bn) in back taxes for 2002 and 2003, The Moscow Times
reports.

An interior ministry’s statement said investigators had earlier discovered an
energy company had evaded tax of more than 22.5bn rubles and a criminal case had
been filed against a ‘top manager of a large oil company’ on suspicion of tax
evasion.

Further reading:

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The Moscow Times story

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