MOSCOW, August 11 (RIA Novosti commentator Peter Lavelle). Russia's tax authorities on Wednesday ordered oil giant TNK-BP to pay $245 million in back taxes for 2001, a massive reduction from the $560 million tax claim initially lodged against the company as part of a wider back tax claim for nearly $1 billion.
TNK-BP agreed to pay the sum by August 18, but said it would continue to review the legal basis of the case against it. The tax authorities have said they are continuing with audits covering TNK-BP's 2002-2004 activities and the activities of its subsidiaries in 2001.
While TNK-BP certainly laments the continued scrutiny from the tax authorities, being ordered to pay a much lower sum indicates that all significant tax claims against Russian companies may be reduced as well, with the exception of what is left of Yukos.
Therefore, this news should be considered as yet another indication that Vladimir Putin's call to reign in "tax terrorism" is being heeded.
