Audio By Carbonatix
The Arbitration for International Chamber of Commerce in London has ruled in favor of the government against Tullow Oil's nearly US$400 million tax charge.
For some, the ruling should mean that the Government of Ghana can now go ahead and let Tullow pay the almost US$400 million tax charges on some loan interest deductions and corporate insurance issues.
Tullow Oil took up the issue to the tribunal in London, arguing that the charge by the Ghana Revenue Authority breached Ghana’s Petroleum Agreement. The penalty was applied as well.
However, the Tribunal ruled in favour of Ghana, saying its action was within the law.
Earlier this year, the Tribunal had rulings by the court in its favour.
However, it is not clear for now if the Government of Ghana may move to enforce this ruling due to the possible impact on Tullow oil and its operations in Ghana.
Latest Stories
-
ICU urges GHABA members to transform hairdressing skills into sustainable enterprises
9 minutes -
Ghana eyes stronger trade ties as Australia hosts multicultural trade and investment forum
18 minutes -
Margaret-Marie Krakue
21 minutes -
Ayariga announces plans for live broadcast of MMDAs’ meetings on local radio stations
24 minutes -
Mrs Anna Tackie
26 minutes -
Ghana links Afghan heroin and Brazilian cocaine to global drug markets – Global Organised Crime Index
33 minutes -
NHIA launches nationwide inter-school quiz to deepen students’ knowledge of NHIS
40 minutes -
Political protection could be masking Ghana’s cocaine trade – Global Organised Crime Index
45 minutes -
AFCON 2027Q: ‘We have to dissolve the GFA’ – Effia MP after Black Stars lose to Gambia
47 minutes -
NPP announces voting schedule and ID requirements for October 3 national elections
49 minutes -
Lupus can mimic HIV symptoms and damage kidneys if untreated – KNUST expert
52 minutes -
Focus on Sickle Cell Foundation seeks to introduce sickle cell education through comics in Ghanaian schools
57 minutes -
NPP rewrites the campaign playbok as opposition reality shapes National Executive contest
59 minutes -
Road safety education will fail without enforcement – NRSA boss
60 minutes -
Daily Insight for CEOs: Finishing Q3 strong and entering Q4 with purpose
1 hour