curator
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Oil companies in Nigeria still owe the government $7.8 billion in unpaid taxes, royalties and signature bonuses, the country's oil industry auditors said Wednesday, adding that the Nigerian government has now directed relevant revenue agencies to recover the money.
In 2012, the Nigeria Extractive Industries Transparency Initiative in an audit report covering 2009-2011 said that oil and gas companies operating in the West African country owed the government $9.6 billion in unpaid or underpaid taxes and royalties. It did not name the companies involved.
Since then, only $1.8 billion has been recovered from the companies, a NEITI spokesman said Wednesday.
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Source: Platts.com
In 2012, the Nigeria Extractive Industries Transparency Initiative in an audit report covering 2009-2011 said that oil and gas companies operating in the West African country owed the government $9.6 billion in unpaid or underpaid taxes and royalties. It did not name the companies involved.
Since then, only $1.8 billion has been recovered from the companies, a NEITI spokesman said Wednesday.
Click here to read more
Source: Platts.com