Total and Other Major Oil Companies has been Summoned over 85 Billion Dollars Tax Claims
TOTAL, OTHER OIL COMPANIES SUMMONED FOR 85 BILLION DOLLARS TAX CLAIMS
In order to foster transparency and accountability in the economic sector of the Country, Mr Abubaka Fulata, the Chairman of the House of Representative on Structure and Accountability of Joint Venture (JV) has called Total Upstream for an alleged tax claim of 85 billion dollars and many other oil companies in the Country over claims of Capital Allowance from the Government.
Mr Abubaka Fulata says this while speaking at the investigative hearing at Abuja on Tuesday, he noted that many oil companies in the Country has claimed to have been granted investment tax and capital allowance from the government without presenting a certificate of acceptance to backup their claims.
The oil companies which includes Shell Nigeria Exploration Company Ltd, AGIP Energy Natural Resources Ltd, Chevron among others, have been summoned to verify their claims of collecting a capital allowance from government but without any certificate of acceptance.
The Committee Chairman who frowned at the act says it is against the Nigeria’s law and any Company found guilty will be ask to make refund to the government.
