Uganda: Questions As Tullow Settles U.S.$250 Million Tax Row

opinion

Tullow Oil's decision to pay $250 million in capital gains tax after the sale of two thirds of its assets to France's Total and China's Cnooc in early 2012, far below what the government earlier demanded, represents some sort of break for the Irish firm - a reprieve for a company that was once accused of inappropriately trying to manipulate figures and distort Uganda's tax laws.

While this might not have been the initial resolution it was seeking, Tullow Oil praised the settlement, which was announced on Monday, describing it as "good news." The matter was settled out of court.

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