A report by Dow Jones Newswires has revealed that a joint venture between Canada's PetroKazakhstan Inc. and major Russian oil firm OAO Lukoil could be landed with a bill for back taxes totalling almost US$140 million from Kazakhstan's tax authorities.
Kazakhstan's Turgai Petroleum, which operates the Kumkol North oil field in central Kazakhstan, has reportedly failed to pay sufficient taxes for the years 2002 and 2003, the report stated, quoting a source close to the country’s tax committee.
"We have completed a complex audit of the company and found that about 17-18 billion tenge were not paid to the state budget in 2002 and 2003," the source revealed.
Neither PetroKazakhstan nor Lukoil has commented on the allegation.
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