Stats: 3,184,977 members, 7,925,036 topics. Date: Monday, 19 August 2024 at 09:07 AM |
Nairaland Forum / Nairaland / General / Politics / FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government (11146 Views)
$20bn Dangote Refinery Will Disrupt Europe’s Oil & Gas Industry – OPEC / FG To Install New Flow Meters, Take Over Production Data From Oil Firms / Ex-Niger Delta Militants Beg Oil Firms To Return To Region (2) (3) (4)
FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Onyemadonald(m): 9:46am On Feb 22, 2019 |
As Nigeria continues to clamp down on tax defaulters, it has ordered some foreign oil and gas companies to pay nearly $20 billion in taxes owed to states, industries and government. A letter sent to the companies earlier this year via a debt-collection arm of the government, Nigerian National Petroleum Corporation (NNPC), cited what it called outstanding royalties and taxes for oil and gas production. Specifically, Royal Dutch Shell, Chevron, Exxon Mobil, Eni, Total and Equinor were each asked to pay the federal government between $2.5 billion and $5 billion, said the sources. Norway’s Equinor, which produced around 45,000 barrels per day (bpd) of oil in Nigeria in 2017, confirmed the request. “Several operators have received similar claims in a case between the authorities in Nigeria and local authorities in parts of the country,” an Equinor spokesman said. Exxon “is currently reviewing the matter”, a spokeswoman for the U.S. company said. Shell, Total, Eni and Chevron declined to comment, as did the Presidency, petroleum ministry and NNPC. The charge came after the federal government and states settled a dispute over the distribution of revenue from hydrocarbon production. The sides agreed last year that Abuja would pay the states several billion dollars, three company and government sources said. The companies were expected to dispute their respective payment claims. “Equinor sees no merit to the case,” the company spokesman said. A source at another company said: “This looks like an internal dispute between the federal and local governments. The central government is simply trying to shift to the IOCs (international oil companies) money it owes.” The tax demand adds a fresh challenge to energy companies investing in Nigeria, which have been negotiating production-sharing agreements with the government to develop and operate giant offshore fields. Nigeria uses several types of contract with energy companies including the establishment of joint ventures and production sharing, the two most common partnerships for international oil companies in the country. The companies pay the government in the form of royalties and tax as well as providing the state with oil and gas. SOURCE: https://www.trendingaccounting.com/2019/02/fg-hits-foreign-oil-firms-with-20bn.html 2 Likes
|
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by oblaak(m): 10:04am On Feb 22, 2019 |
.. If you know what is good for you, vote out the dullard.. We have just few hours to conclude.. Like for Atiku, share for Buhari 82 Likes 103 Shares |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by MANNABBQGRILLS: 10:04am On Feb 22, 2019 |
As Nigeria continues to clamp down on tax defaulters, it has ordered some foreign oil and gas companies to pay nearly $20 billion in taxes owed to states, industries and government.Just imagine what $20 BILLION dollars will do in our country's economy. (and this is still even less than the amount Diezani Allison Madueke looted and ran away from the country when Buhari became President) Just imagine the infrastructures it will bring. For the first time in this nation, we have a President that we can trust not to mismanaged or loot out national treasury. We will vote for President Buhari over and over, again and again, because he can be trusted. You can trust him with the resources of the country. He won't filch them. You can trust him with power. He won't misuse it. You can trust him with the well being of the land, he cares The thief of a party (PDP) will never announce this to the nation, but will rather share it among themselves. It was under PMB's administration that some people know that they have been returning Abacha's loot for years to PDP that we never heard about, but we got to know that under Buhari's government, When we saw ( not the willfully blind people tho) all the good projects he is doing all over the country with the returned loot, but PDP and its corrupt politicians silently and codedly shared it among themselves with no one knowing when and how!! GOD BLESS OUR PRESIDENT MUHAMMADU BUHARI., as in...GOD WILL BLESS HIM SO MUCH ALL THE REMAINING YEARS OF HIS LIFE. A MAN AFTER OUR HEART. PURE AND TRUE LOVE is what we have for our Darling Daddy 108 Likes 24 Shares
|
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by isahsalee: 10:04am On Feb 22, 2019 |
ok 2 Likes |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by NIKEDEEDS(m): 10:04am On Feb 22, 2019 |
H |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by crackerspub: 10:04am On Feb 22, 2019 |
![]() ![]() ![]() |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by sojayy(m): 10:05am On Feb 22, 2019 |
Indigenous companies on hearing this news be like... 8 Likes 2 Shares
|
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by ajayiopy: 10:05am On Feb 22, 2019 |
wetin we gain |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by superior1: 10:05am On Feb 22, 2019 |
Bubu chasing America shadows for placing their bets on Atiku 11 Likes 1 Share |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Mikeslow: 10:05am On Feb 22, 2019 |
ok |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by faithfull18(f): 10:05am On Feb 22, 2019 |
Why do these big companies like to owe ![]() 14 Likes 4 Shares |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Pope22(m): 10:05am On Feb 22, 2019 |
APC, if you like start now to give us free food or start now to do the job you were supposed to do since 4years, we won't vote you. Is it now that you know you would do that? 6 Likes |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Jummyju: 10:05am On Feb 22, 2019 |
After being paid, still laundered to foreign countries. Useless rulers 10 Likes |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Lakeshizu(m): 10:05am On Feb 22, 2019 |
![]() |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Nobody: 10:06am On Feb 22, 2019 |
Oya pay. May 2019 is close by. |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by monkautos(m): 10:07am On Feb 22, 2019 |
Buhari.. We are talking about introducing Tax relief so that more companies can come, you are over taxing the already taxed companies. 2 Likes |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Sannisege: 10:07am On Feb 22, 2019 |
Thank you Baba Buhari. You have my vote tomorrow 28 Likes 9 Shares |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by adioolayi(m): 10:09am On Feb 22, 2019 |
oblaak: So, it's good for tax defaulters to keep milking our economy ![]() PDP Never again! 23 Likes 5 Shares |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by StudyCrestLtd: 10:09am On Feb 22, 2019 |
Jummyju:Unfortunately that's were we've found ourselves. We keep hearing huge sums but no reflection on the society 2 Likes |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by frowland(m): 10:10am On Feb 22, 2019 |
oblaak: How does the above post have anything to do with whatever /whoever 'Dullard' you are referring to? Look, like I stated earlier, both APC and PDP supporters want the same thing ~ Good governance, but they have their separate views on how it can be achieved. This is understandable. But posting this rubish on a progressive information like this shows we are all far from getting it right. 13 Likes 3 Shares |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Caseless: 10:10am On Feb 22, 2019 |
![]() These investors cannot always intimidate us because they think they can withdraw their investment and shake our economy. They should pay up. I know this will scare investors away by this bold step, but the right thing should be done. They don't do in their countries what they do in Nigeria. 7 Likes 3 Shares |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by Nobody: 10:10am On Feb 22, 2019 |
[s] post=75985678:[/s] What will it do? Nothing! Because it will be looted by APC and their friends Atiku is your next president deal with it or commit suicide 3 Likes |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by ednut1(m): 10:11am On Feb 22, 2019 |
Same FG/NNpC that is owing cashcall to these IOCs . Abeg siba puo |
Re: FG Hits Foreign Oil Firms With $20bn Taxes Owed To States And Government by dokunbam(m): 10:12am On Feb 22, 2019 |
Nigeria is getting sane We will get there 9 Likes 4 Shares |
EndSARS: House Of Reps To Honour, Compensate Victims Of Police Brutality / Court To Deliver Judgment In Suit Seeking Oyetola’s Disqualification July 14 / President Tinubu Approves Establishment Of National Health Fellows Programme
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 27 |