April 2005-TNK-BP Faces a Huge Tax Bill
Russian tax authorities announced a $1 billion tax claim relating to 2001 earnings. Viktor Vekselberg said, "We can not possibly have such liabilities, and will therefore dispute them There can be no risks, no parallels with Yukos. A few months later, the tax liability was reduced.
Robert Dudley made the following comments:
The significance of this (tax claim) goes far beyond our company. Everyone will watch this as a test of whether Russia can integrate with the world economy. I don't think it is in the interest of the Russian government to destroy TNK-BP. Russia is inadvertently becoming increasingly difficult to navigate for well-intentioned investors-Russian and foreign alike. The state has progressively asserted its influence over the commanding heights of the economy, and state-owned companies have begun to play an increasingly prominent role. At the time when Russia's economy is in need of knowledge and management skills, it is becoming increasingly difficult to bring in managers and executives.