The Nigeria LNG Limited has debunk Media reports and insinuations suggesting that a Tax Appeal Tribunal ordered it to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised Company Income Tax (CIT) settlement for 2016.
In a statement Thursday signed by Andy Odeh,General Managers External Relations and Sustainable Development,the NLNG described the Media reports as a misrepresention of 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.
It explained further that 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.
Said he,”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.”
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NLNG reached an agreement to pay $27.5m to FIRS not Court order
