BusinessCompany NewsBP joint venture attracts Russian authorities

BP joint venture attracts Russian authorities

TNK-BP, a joint venture with British oil giant BP, is the subject of a Russian tax authority probe.

Link:M/b> Russian oil giant hit with £1.9bn tax bill

An official at TNK-BP has confirmed that it has been billed 2.5bn roubles (£47m) by the Russian tax authorities, according to Reuters.

The news follows similar probes by authorities in oil giant Yukos’ tax arrangements, which has resulted in an ongoing tax fraud trial.

‘We have been presented with this demand as a result of checks into our 2001 accounts, but we are going to object to them, since we believe that some parts of these demands are unfounded,’ Reuters quoted the TNK-BP spokesman as saying.

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