The Ministry of Finance called the expected dates of commencement of proceedings on the claim of ExxonMobil

Moscow. January 29. The Finance Ministry awaits the start of court hearings on the suit of the American ExxonMobil on taxes PSA project “Sakhalin-1” no earlier than spring 2017, said the representative of the Ministry.

“The situation is developing on the case so that the hearing may be held no earlier than spring 2017”, – he said

According to the Agency, “ExxonMobil has not yet filed a detailed claim with all the arguments and evidence”. “After you review the materials received from the plaintiff, will proceed to prepare a detailed reply to the claim together with a team of our lawyers. We, as the plaintiff will have sufficient time to present their arguments to the arbitrators” – he said.

“The talks held in 2015, has not yielded tangible results. Let’s see how will develop the events in 2016, because the year has just begun,” – said the Agency interlocutor.

As reported, “a daughter” ExxonMobil, the operator “Sakhalin-1” company ExxonNeftagas since 2008 tries to move with rate of tax of 35% established in the agreement on production sharing, rate in 24% and since 2009 – at the rate of 20% established by the Tax Code.

However, the PSA project has the status of law, basic conditions of its implementation must be immutable from the moment of conclusion of the agreement and any amendments may be made only by the court. On this basis, the Russian officials in 2010 rejected Exxon in reducing tax rates. Since then, the American company annually pays first 20% of profit tax, and after conducting a cameral tax inspections makes up the remaining 15% under protest.

Assessment ExxonMobil total amount of disputed taxes, 2009-2013 reaches 516 million.