Heritage Owes $30 Million Uganda Tax on Appeal Loss, Vision Says
Heritage Oil Plc (HOIL) was ordered to pay $30 million in income tax to the Uganda Revenue Authority after the explorer lost an appeal against a payment relating to its sale of oil blocks to Tullow Oil Plc last year, New Vision reported, citing a judgment by the Tax Appeals Tribunal.
Heritage Oil Plc sold its shares in two oil blocks in the Albertine region of the East African nation for $1.5 billion sparking off a dispute with Ugandan authorities over tax payments.
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