The Ghana Revenue Authority (GRA) says it will work with Tullow Ghana to settle its US$393 million tax obligation while ensuring the company’s petroleum operations continue without disruption.
The assurance follows an international arbitration ruling upholding the authority’s tax assessment.
Speaking to Joy Business, GRA Commissioner-General Anthony Kwesi Sarpong welcomed the decision and said the authority would engage all parties to reach an amicable settlement.
“The Ghana Revenue Authority welcomes the news of victory at the London Arbitration sustaining a tax claim of over US$393 million,” he said.
Mr Sarpong described the ruling as significant, saying it demonstrated the GRA’s fair application of Ghana’s tax laws to both local and international businesses.
“When there is a dispute, we follow the rules,” he added.
He described Tullow as an important partner in Ghana’s petroleum sector and stressed that the authority would work with the company to settle the obligation in a manner that protects business continuity.
“GRA remains committed to protecting the country’s interest and placing Ghana first in our dealings,” he said.
The tribunal ruled in Ghana’s favour on Tuesday after Tullow challenged the GRA’s assessment. The US$393 million liability includes penalties and interest accrued since the tax became due.
