Tullow Uganda Operations Pty Ltd
Tel: +44 (0)20 3249 9000 | Fax: +44 (0)20 3249 8801
Email: info@tullowoil.com | Web: www.tullowoil.com
 | Location: Plot 15 Yusuf Lule Road, Kampala , Uganda Address: P.O. Box 16644, Kampala , Uganda  Tullow payments to govt drop by Shs10b Tullow, has disclosed what it paid to government in taxes and licence fees. In its unaudited transparency disclosure, Tullow indicated it spent $16.13m (Shs43.7b) on loyalties, stamp duty, Value Added Tax (VAT), Pay As You Earn and National Social Security Fund contributions in Uganda. This is a 17.5 per cent drop from the Shs59b ($23m) spent. “There has been a considerable reduction in the level of project activity, especially in field operations, following the conclusion of the exploration and appraisal phase. This explains the reduced level of tax payments,” Mr Conrad Nkutu, the head corporate affairs, at Tullow Uganda told Daily Monitor in an e-mail. The amount paid to government has been reducing as oil activity slows down. For instance, the disclosure indicatesTullow didn’t pay income tax, whereas, income tax was $4m (Shs11.7b). VAT also dropped from $4.8m (Shs14b) to $1.4m (Shs1.4b).Read more ▪  Tullow paid sh59b to government Tullow oil paid a total of sh59 billion ($23 million) to government , figures released as part of upcoming new legislation pushing for industry transparency indicate.The payment disclosures makes the London listed firm the first company to take this step ahead of the revised EU accounting directive which is expected to be in place in the UK.“We are also making voluntary disclosures of other taxes (e.g. VAT, Withholding Taxes, PAYE, NI and others) that we pay but are not covered by the revised EU Accounting Directive,” said George Cazenove, Tullow Group media relations manager.In Uganda, Tullow has a one-third interest in each of four licenses in the Lake Albert Rift Basin shared with Total and Chinese firm, CNOOC. Uganda has about 1.7bn barrels of recoverable oil resources in the Lake Albert Rift Basin.The $23m paid to Ugandan government was slightly higher than the $22 million paid in taxes to the Kenyan government. Read more ▪  Tullow:Private firms make Shs 450bn from oil Tullow Oil has spent over $200m (Shs 450bn) in its dealings with over 550 local businesses, it emerged in a report titled Creating Shared Prosperity in Uganda, the report documents Tullow’s activities and investments over the last nine years.Launching the report, Tullow General Manager Jimmy Mugerwa, said the money had helped several firms grow, while allowing Tullow to manage its risks.“As we progress towards development, these investments are expected to increase exponentially. Ugandans must, therefore, continue to prepare themselves to benefit from these developments,” Mugerwa said. Read more ▪ Tullow: We are in Uganda to stay, says oil company Kampala. Tullow Oil PLC (Uganda) is committed to the Ugandan oil and gas industry and will not cease its operations here, officials have clarified.The British exploration company in an email response to a number of questions raised by this newspaper, said it is fully committed to the Uganda project for a long term.Read more ▪ |