Business
…as NLNG refutes false report on Tax Appeal Tribunal’s ruling on revised income tax
NIGERIA LNG Limited (NLNG) has provided clarifications to media reports suggesting that a Tax Appeal Tribunal ordered NLNG to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised Company Income Tax (CIT) settlement for 2016.
According to NLNG, “these reports misrepresent an out-of-court settlement that was reached amicably between the parties, without prejudice to their respective legal positions, which the Tribunal merely adopted as Consent Judgment in the appeal.”
In a statement by Andy Odeh, general manager, External Relations and Sustainable Development on Thursday, July 18, said: “The payment by NLNG was thus made in furtherance of a settlement agreement reached between the parties and not because of any order made by the Tribunal.
“NLNG remains a responsible corporate citizen, and consistently operates in compliance with Nigerian laws and will continue to operate in line with its vision of being “a globally competitive LNG company helping to build a better Nigeria.”
18th July, 2024.
C.E.
Tags: FIRS NLNG
