Open Joint Stock Company Gazprom

OAO GAZPROMNOTES TO THE IAS CONSOLIDATED FINANCIAL STATEMENTS—(Continued)(In millions of Russian Roubles in terms of the equivalent purchasing power of the Rouble at31 December 2001, except as noted)12 ACCOUNTS PAYABLE AND ACCRUED CHARGES (continued)Other payables includes RR 16,441 and RR 13,793 related to the operations of the Group's bankingsubsidiaries at 31 December 2000 and 1999, respectively. These balances mainly represent amountsdue to the banks' customers with terms at commercial rates ranging from 3.6% to 11.6% per annum at31 December 2000 and 7.2% to 10.0 % per annum at 31 December 1999.13 TAXES PAYABLE31 December2000 1999Excise tax (including deferred amounts of RR 24,141 and RR 30,841at 31 December 2000 and 1999, respectively) 40,388 55,714Tax penalties and interest 39,857 43,255VAT, net (including deferred amounts of RR 4,051 and RR 16,453 at31 December 2000 and 1999, respectively) 25,724 41,422Road use and housing fund taxes (including deferred amounts ofRR 2,943 and RR 6,603 at 31 December 2000 and 1999, respectively) 12,628 22,880Profit tax 9,813 11,053Mineral use and mineral restoration taxes (including deferred amounts ofRR 2,025 and RR 1,596 at 31 December 2000 and 1999, respectively) 9,458 7,190Pension fund and other social taxes 2,742 1,723Other taxes 5,938 8,779146,548 192,016Less: long term portion of restructured tax liabilities 10,519 –136,029 192,016The deferred amounts included in the taxes above are payable upon settlement of the relatedtrade receivable balances. Substantially all accrued taxes above, excluding the deferred amounts andrestructured liability (see below) incur interest at a rate of 1/300 of the refinancing rate of the CentralBank of the Russian Federation (the refinancing rate was last set at 25.0% per annum on 4 November2000). Interest does not accrue on tax penalties and interest.During 2000 the Group negotiated the restructuring of its tax liabilities in accordance with currenttax regulations.The long-term portion of the restructured tax and penalties liability has the following maturityprofile:31 December2000Due for repayment:Between one and two years 2,703Between two and five years 8,092After five years 17,65428,449Less: discount recorded upon restructured taxes 17,93010,519F-22