GRA assures Tullow of collaboration to settle $393m tax liability without disrupting its petroleum operations

The Ghana Revenue Authority (GRA) has announced its intention to collaborate with Tullow Ghana to resolve a substantial tax dispute amounting to US$393 million, ensuring that the company's petroleum operations remain uninterrupted. This commitment came after a recent ruling from an international tribunal, which validated GRA's tax assessment as legally sound.

In an interview with Joy Business, GRA's Commissioner-General, Anthony Kwesi Sarpong, expressed his satisfaction with the ruling. He emphasized that the GRA is dedicated to amicably settling the dispute and highlighted the significance of the judgment. The victory, according to Sarpong, reinforces GRA's commitment to fairly applying Ghana's tax laws to both international and local businesses.

Sarpong further explained that Tullow Ghana is considered a vital business partner in the nation's petroleum sector. The GRA aims to resolve the tax obligation in a manner that does not disrupt Tullow's operations. The Ghana Revenue Authority remains committed to safeguarding the country's interests and prioritizing Ghana's best interests in all dealings.

The tax dispute, which was initially challenged by Tullow Ghana under the Petroleum Revenue Management Act, was ultimately decided in favor of the GRA. The US$393 million figure encompasses penalties and interest accrued on the tax liability since its due date.