GRA to work with Tullow to resolve US$393m tax dispute – Commissioner-General

Ghana Revenue Authority (GRA) Commissioner-General Anthony Kwesi Sarpong announced that the authority will collaborate with Tullow Ghana to resolve a substantial US$393 million tax dispute, without disrupting the company's operations in Ghana's petroleum sector. In an interview with JoyNews, Mr Sarpong confirmed that the GRA is pleased with the recent ruling by an international tribunal, which upheld the tax assessment against Tullow. The authority aims to settle the dispute amicably with Tullow and other relevant parties.

The London Arbitration's victory is significant because it demonstrates that the GRA applies Ghana's tax laws fairly to both local and international businesses. When disagreements arise over tax obligations, the authority follows established procedures to resolve the matters. Mr Sarpong emphasized that Tullow, being a crucial business partner in Ghana's petroleum sector, will be worked with to ensure the tax obligation is settled without impacting its operations.

The US$393 million claim includes both penalties and accrued interest on the tax liability since it became due.

Tullow had contested the GRA's assessment under the Petroleum Revenue Management Act. The GRA's recent triumph at the London International Arbitration now confirms the tax assessment. Mr Sarpong reiterated the authority's commitment to safeguarding Ghana's interests while ensuring fair resolution of tax disputes with businesses.