Tax: NLNG says $27.5 million to FIRS is amicable out-of-court settlement between parties
The management of Nigeria LNG Limited (NLNG) has clarified recent reports that gave the impression 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.
According to a statement by Andy Odeh, General Manager, External Relations and Sustainable Development, NLNG Limited, “these reports misrepresent 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.”
The company stressed 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.”
It noted further that “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.”
