Ghana
GHANA WINS $393 MILLION TAX ARBITRATION AGAINST TULLOW OIL
Ghana has secured a major victory in an international tax arbitration against Tullow Oil, with a tribunal rejecting the company's challenge to the Ghana Revenue Authority's tax treatment of business interruption insurance proceeds. Approximately $393 million is at stake in the dispute, including the underlying tax assessment and associated interest and penalties. The ruling strengthens Ghana's position in a significant revenue dispute involving one of the country's largest upstream oil investors, although the decision should not be interpreted as an immediate $393 million cash payment to the government.
BigV•2h ago•1 min read