Former PwC Consultant Confirms Company Organized YUKOS’ Tax Structure
UK citizen Stephen Wilson, a former PwC tax specialist and YUKOS employee, gave testimony in the Khamovnichesky Court today discussing PwC's role in establishing YUKOS' tax structure.
He noted that on the advice of PwC, YUKOS reorganized its international tax structure to optimize its international presence, under the auspices and approval of the tax authorities in the UK and Cyprus.
Wilson stated in court that PwC at the time helped many Russian companies looking to expand internationally. With YUKOS, he noted that the auditing firm helped it achieve its objective of creating its own foreign trading structure and by early 2002 a structure was put in place to accommodate strategic investment, treasury operations and foreign trading structure. He confirmed that all of these were accommodated within the wholly owned subsidiaries, regulated by the Russian Central Bank.