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PWC to appeal Yukos tax evasion charges in court

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MOSCOW, December 25 (RIA Novosti) - PricewaterhouseCoopers, an auditor for Yukos [RTS: YUKO] in 2002, will fight accusations of involvement in tax evasion schemes in court, the company said Monday.

The Federal Tax Service accused PWC of helping the bankrupt oil company evade taxes.

Mike Kubena, Country Senior Partner of PricewaterhouseCoopers (Russia), said the company denies all charges filed by Tax Inspectorate No. 5, and will uphold its good name in court.

He said the company has never been involved in any tax evasion schemes and has never concealed information.

Earlier today, a Moscow court raised Yukos's debt to Russia's tax service by $1.45 billion, to $15.5 billion, most of it being tax arrears for 2005.

Yukos was declared bankrupt August 1, 2006. Now the oil company has about 60 creditors, and its total debt exceeds 682 billion rubles ($25.94 billion). Yukos' main creditors are the Federal Tax Service, Rosneft [RTS: ROSN], Tomskneft [RTS: TOMG] and Samaraneftegaz.

Yukos founder Mikhail Khodorkovsky is currently serving an eight-year prison term in Siberia after a court found him guilty of fraud and tax evasion in May 2005.

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