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The Supreme Court has affirmed an almost one-decade Court of Appeal judgment on $6,927,248 tax debt to Nigeria by an oil service firm, Halliburton West Africa Limited (HWAL).
The $6.9 million is an additional assessment by the Federal Inland Revenue Service (FIRS) on HWAL’s revenue for 1996, 1997, 1998, and 1999.Tap Here To Read Full Details
However, the firm challenged the sum, arguing that since its Nigerian subsidiary (Halliburton Energy Services Nigeria Limited (HESNL) had been previously assessed, asking it to pay the additional sum amounted to double taxation.
But, a five-member panel of the Supreme Court held on Friday that the appeal filed by HWAL lacked merit.
It consequently threw out the matter and directed the firm to pay the $6.9 million and N2 million as cost to FIRS.
Credit : @TheNationNews
