Russian budget to receive extra $1.3 bln from Rosnef-TNK-BP dividends - Sechin
MOSCOW. March 22 (Interfax) - The Russian budget will receive an additional $1.3 billion from dividends of the united Rosneft and TNK-BP company, Rosneft CEO Igor Sechin said.
"The budget will receive an extra $1.3 billion from increased dividend payments alone, while TNK-BP paid [dividends] to its shareholders. The state's share in the united company will be 69%, and this dividend will be such considering that we pay 25% of the profit according to the IFRS," Sechin said, stressing that Rosneft will not change its dividend policy after the completion of the deal.
Rosneft will also reregister all of TNK-BP's assets in Cyprus in Russia, Sechin said. "This will enable us to increase the tax base," he said.
Rosneft has taken all necessary measures to minimize risks of the Cypriot authorities' possible decision on taxing bank deposits, he said.