The Nigeria LNG Limited (NLNG) has explained that report suggesting that a Tax Appeal Tribunal ordered to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised Company Income Tax (CIT) settlement for 2016 was mispresented.
Penpushing reports that General Manager, External Relations and Sustainable Development, Andy Odeh in a statement emphasized that these reports misrepresent an out-of-court settlement that was reached amicably between the parties.
The statement added that the payment made by Nigeria LNG Limited (NLNG) was thus made in furtherance of a settlement agreement reached between the parties and not because of any order made by the Tribunal
‘NLNG clarifies that 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.
Penpushing further reports that the statement said the establishment 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 Liquified Natural Gas (LNG) company helping to build a better Nigeria
‘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. 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’, Udeh wrote
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