DUBAI, UAE, February 25, 2011 /PRNewswire/ -- In the news release, "Mina Corp: Draft Law's Disguised Tax Violates UK-Kyrgyzstan Agreement" issued on 25 Feb 2011 16:04 GMT, by Mina Corp over PR Newswire, we would like to advise that the headline should have read "Mina Corp: Draft Law's Disguised Tax Violates US-Kyrgyzstan Agreement" rather than "Mina Corp: Draft Law's Disguised Tax Violates UK-Kyrgyzstan Agreement", as incorrectly transmitted by PR Newswire. Complete, corrected release follows:
Mina Corp: Draft Law's Disguised Tax Violates US-Kyrgyzstan Agreement
Mina Corp categorically denies that it agreed to the draft law passed yesterday in a first reading by Parliament "On special payments made by the company supplying jet fuel to the Manas Transit Center."
Commenting on the draft law, Dean Peroff of Amsterdam & Peroff, a representative of Mina's international legal counsel, said: "Mina Corp has never agreed to any special payments or charges on the fuel it supplies to the Manas Transit Center. Nor could it because the draft law violates the longstanding agreement between the governments of Kyrgyzstan and the United States prohibiting the imposition of any tax or duty on fuel supplied to the US military. The special payment in the draft legislation amounts to a thinly disguised tax that would ultimately be payable by the US military and the US taxpayer. Mina Corp cannot consent, and has not consented, to anything that violates the US-Kyrgyzstan Agreement and certainly cannot do so without the approval and authorization of its customer, the United States Department of Defense."
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SOURCE Mina Corp