YUKOS Decided To Pay Undertime

Russia?s largest oil major YUKOS yesterday offered to pay $8 billion US over the next two years to clear up its massive tax bill. Earlier, it proposed to pay the bill over three years.
The company said it is willing to pay $2.5 billion US this month, $3.5 billion US by July 2005 and $2 billion US by July 2006. The Kremlin was going to consider the three-year payments offer, and now it is likely to take this offer into consideration.
YUKOS was hit with $6.7 billion US in claims for back taxes by the Russian government dating back to 2000. Prosecutors have said that more bills for back taxes for 2002 and 2003 could still be forthcoming.