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Russia's Customs Service Reaches Out-of-Court Deal with TNK-BP

Russia's Customs Service has refunded Russian-British venture company TNK-BP 6.17 billion rubles in overpaid customs duties in an out-of-court deal with the oil major, customs chief Andrei Belyaninov said on Wednesday

Russia's Customs Service Reaches Out-of-Court Deal with TNK-BP Russia's Customs Service Reaches Out-of-Court Deal with TNK-BP

"We have signed an amicable agreement with TNK-BP. We have come to understand that there are no prospects for legal proceedings and have already transferred six billion rubles," Belyaninov told reporters.

The customs agency's decision follows a ruling by a Moscow Arbitration Appeals Court in March, which quashed a judgment by a lower instance court on denying TNK-BP's claim against the tax authorities to refund 6 billion rubles in customs duties overpaid in 2006-2007 for the export of oil and petroleum products.

Source : RIA Novosti