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Abramovich's UK Non-Dom Status Brings Court Victory,
by Robin Pilgrim, LawAndTax-News.com, Cyprus
Wednesday, November 05, 2008
The High Court in the UK has come down in favour of Russian tycoon Roman Abramovich
over a GBP2.5m claim against him, because the judge considered that he was not
domiciled in the UK for tax purposes.
Mr Justice Christopher Clarke ruled in favour of Abramovich on the grounds
that he does not spend enough time in the UK to be considered resident in the
country. Justice Clark argued that Abramovich remains a Russia citizen and taxpayer,
and spends most of his time in his country of birth overseeing his business
interests and in his capacity of Governor of the Siberian province of Chukotka.
The claim, therefore, should have been served in a Russian court, he said.
The UK tax authority, HM Revenue and Customs, normally considers someone as
resident in the UK if they spend more than 183 days in the country in any one
tax year. However, in 2007, Abramovich was found to have spent just 57 days
in the UK, time almost exclusively devoted to his ownership of Chelsea football
club.
“He spends more time in Russia than anywhere else and his business and
personal interests are focused on Russia. Virtually all of the business associates
with whom he is said to have dealt in these proceedings are Russian. Prior to
2004 he spent virtually no time in England," Justice Clark observed.
The claim against Abramovich was lodged by Yugraneft, a London-listed company
which claims that Sibneft, the firm formerly owned by Abramovich, illegally diluted
its 50% share in development of the South Priobskoye oilfields in Western Siberia to
virtually zero by transferring ownership to offshore companies. This legal
action stemmed from a lawsuit commenced five years ago by Sibir Energy, which
held its shares in the joint venture through Yugraneft.
In 2005, the Eastern Caribbean Supreme Court in the British Virgin Islands
ruled against Sibir, dismissing an application for legal jurisdiction in the
BVI where the offshore companies are thought to be registered.
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