Public Interest Accountability Committee

Payment of CIT

PAYMENT OF CORPORATE INCOME TAX BY JUBILEE PARTNERS IN 2012-2015

VALUE DATE

ORDERING INSTITUTION

AMOUNT PAID (US$)

NARRATION

2012

Tullow

40,210,099.56

2012 - Q4

2013

Tullow

39,026,706.00

2013 - Q1

2013

Kosmos

15,921,230.00

2013 - Q1

2013

Anadarko

23,906,871.00

2013 - Q1

2013

Tullow

17,986,677.00

2013 - Q2

2013

Kosmos

20,862,618.00

2013 - Q2

2013

Anadarko

14,302,730.00

2013 - Q2

2013

Tullow

9,685,889.00

2013 - Q3

2013

Kosmos

18,220,994.00

2013 - Q3

2013

Anadarko

16,861,683.00

2013 - Q3

TOTAL216,985,497.56

24-Jan-14

Kosmos GH

15,431,379.00

Q4 2013

30-Jan-14

Anardarko

48,624,836.00

Q4 2013

30-Jan-14

Tullow GH

41,048,728.00

Q4 2013

23-Apr-14

Kosmos GH

13,135,763.00

Q1 2014

28-Apr-14

Tullow GH

15,532,675.00

Q1 2014

29-Apr-14

Anardarko

17,341,575.00

Q1 2014

27-Jun-14

Tullow GH

10,471,629.83

2013 Add. Tax

08-Jul-14

Anadarko

43,843

2013 Add. Tax

29-Jul-14

Tullow GH

27,282,219.48

2014 - Q2

28-Jul-14

Kosmos

56,619,898.00

2014 - Q2

28-Jul-14

Anadarko

18,360,627.00

2014 - Q2

30-Oct-14

Tullow GH

20,653,018.05

2014 - Q3

TOTAL 284,546,191.36

28-Jul-15

Kosmos

11,617,384

2015 – Q3

29-Oct-15

Kosmos

112,723

 

28-Dec-15

Anadarko

8,680,725

 

TOTAL                                                                                              20,410,832

Source: GRA

The GRA was unable to assess and collect any Capital Gains Tax (CGT) on the assignment of interest transactions that took place in 2012 between EO Group and Tullow Oil as well as Sabre Oil and Gas and PetroSA. This was because tax laws affecting operations in the upstream petroleum sector at the time contained no provisions for CGT. However, the respective Petroleum Agreements (PA) signed between the GoG and the various oil companies prohibit the use of the provisions of any other law which is inconsistent with the Petroleum Income Tax Law. Therefore, GRA could not use the provisions of Internal Revenue Act 2000 (Act 592) to assess any CGT on the beneficiaries of the transfers.