Seeking Alpha

Uganda tax appeals tribunal orders Tullow Oil to pay $407M

  • Uganda's tax appeals tribunal orders Tullow Oil (OTCPK:TUWLF, OTCPK:TUWOY) to pay a tax bill amounting to $407M to the government from the sale of its oil assets in the country three years ago.
  • Tullow objected to the assessment on the sale and challenged the matter at the tax tribunal, after paying 30% of the assessed tax.
  • Tax disputes from the sales have been blamed for delaying the development of Uganda's oil fields, which may contain as much as 3.5B barrels of crude.
Comments (1)
  • dacama1
    , contributor
    Comments (220) | Send Message
    Just deposit it into a few Swiss accounts and all will be forgiven.
    16 Jul 2014, 03:04 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs