Gov’t, Oil Companies Yet to Agree on Tax, Recoverable Costs

Comments 481 Views Kampala, Uganda
Finance Minister Matia Kasaija

Finance Minister Matia Kasaija

In short
Total E&P and CNOOC bought Tullow Oil's Uganda interest at USD 900 million (3.4 trillion Shillings), the money that is thought to have paid much of what Tullow had spent in Uganda. The government, however, says that oil companies should not count this money as expenses, which could lower their income tax when Uganda finally starts drilling the hydrocarbons.

 

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