$27.5m Corporate Income Tax: Nigeria LNG Limited Clarifies Reports

<h4>&dollar;27&period;5m Corporate Income Tax<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Nigeria LNG Limited &lpar;NLNG&rpar; has noted media reports suggesting that a Tax Appeal Tribunal ordered NLNG to pay &dollar;27&period;5 million to the Federal Inland Revenue Service &lpar;FIRS&rpar; as a revised Company Income Tax &lpar;CIT&rpar; settlement for 2016&period;<&sol;p>&NewLine;<p>In a statement signed by Andy Odeh&comma; General Manager&comma; External Relations and Sustainable Development&comma; NLNG clarifies that these reports misrepresent an out-of-court settlement that was reached amicably between the parties&comma; without prejudice to their respective legal positions&comma; which the Tribunal merely adopted as Consent Judgment in the appeal&period;<&sol;p>&NewLine;<p>The payment by <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">NLNG<&sol;a> was thus made in furtherance of a settlement agreement reached between the parties and not because of any order made by the Tribunal&period;<&sol;p>&NewLine;<p>According to the statement&comma; NLNG remains a responsible corporate citizen&comma; and consistently operates in compliance with Nigerian laws and will continue to operate in line with its vision of being <em><strong>&&num;8220&semi;a globally competitive LNG company helping to build a better Nigeria&period;&&num;8221&semi;<&sol;strong><&sol;em><&sol;p>&NewLine;