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

The Ghana Revenue Authority (GRA) has pledged to collaborate with Tullow Ghana to resolve a US$393 million tax dispute without causing any disruption to the company's petroleum operations. This assurance came after an international tribunal ruled in favor of the GRA, confirming the legality of its tax assessment. Commissioner-General Anthony Kwesi Sarpong, speaking to Joy Business, expressed his satisfaction with the ruling, stating that the authority was committed to engaging all parties to settle the dispute amicably.

The commissioner emphasized that the GRA adheres strictly to Ghana's tax laws, whether dealing with international or local businesses. He noted that Tullow Ghana is a significant business partner in the country's petroleum sector and affirmed that the GRA would work closely with them to ensure the tax obligation is settled in a way that does not hinder Tullow's operations.

The dispute, which was brought to the London International Arbitration, involved Tullow challenging the GRA's assessment under the Petroleum Revenue Management Act. The US$393 million figure encompasses penalties and interest accrued on the tax liability since its due date.