Turkısh Fınance Mınıstry Fınes Petrol Ofısı Over Tax Irregularıtıes

  Turkish fueloil products retailer Petrol Ofisi AS ( PTOFS . IS ) , or POAS , said late Friday that the country ' s finance ministry fined it 19 . 9 million Turkish lira ( $12 . 6 million ) over alleged tax irregularities after an audit of its 2005 , 20062007 bank accounts .

In a statement to the Istanbul Stock Exchange , the company said it will use every kinds of its legal rights , including a settlement , won ' t pay the fine now .

Petrol Ofisi is controlled by Turkish conglomerate Dogan Holding ( DOHOL2 . IS ) Austrian energy firm OMV AG ( OMVKY , OMV . VI ) .

Dogan Yayin Holding ( DYHOL . IS ) , Turkey ' s largest media companya unit of Dogan Holding , is faced with a record 4 . 8 billion Turkish lira tax fine , which has attracted criticism at homeabroad , reflecting a long-running dispute between Turkey ' s ruling AK Partythe Dogan companies .

AK Partythe Dogan companies were previously in a dispute in 2008 after Turkish Prime Minister Recep Tayyip Erdogan accused Chairman Aydin Dogan of organizing a campaign against the government , the ruling AK Partyhis family by publishing reports of an alleged corruption in his newspapers .

However , Aydin Dogan rejected Erdogan ' s accusationsaccused the prime minister of harming freedom of the press .

Last year , the Turkish Energy Ministry lifted a ban on Petrol Ofisi from participating in public tenders for a year due to irregularities in a fuel-oil tender , in line with a court decision .

Petrol Ofisi shares Friday closed trading 0 . 79% higher at TRY6 . 40 , amid a 0 . 62% lower overall Istanbul market .
( YC-YC-E-ENG )