The Ghana Revenue Authority (GRA) says an arbitral tribunal has upheld its US$393.09 million tax assessment against Tullow Ghana Limited in a dispute over the taxation of business interruption insurance proceeds.
In a statement issued on Wednesday, September 30, 2026, the GRA said the tribunal, constituted under the Rules of Arbitration of the International Chamber of Commerce (ICC), dismissed claims brought by Tullow Ghana in proceedings against the Republic of Ghana.
According to the GRA, the tribunal upheld the tax assessment of US$393,091,993.70 and determined that the assessment did not breach the applicable petroleum agreements.
The tribunal also found that the assessment was not time-barred and that the GRA’s enforcement action was lawful, the Authority said.
The dispute relates to the taxation of proceeds from business interruption insurance associated with Tullow Ghana’s petroleum operations.
The GRA said the decision affirms its position that the assessment was made in accordance with Ghana’s tax laws and reinforces the principle that taxpayers, regardless of their size or sector, are subject to the country’s laws.
The Authority said it would work with the government and Tullow Ghana to give effect to the tribunal’s award in accordance with Ghanaian law.
It added that implementation would take into account the need to secure revenues lawfully due to the state while supporting the continuity of operations and investment in the Jubilee and TEN oil fields.
The GRA also acknowledged the role of the Government of Ghana, the Office of the Attorney-General and Ministry of Justice, the Ministry of Finance and its external legal counsel, Foley Hoag LLP, in the proceedings.
It commended its officers and technical teams for their work during the case, saying the outcome highlighted the importance of strong institutions, sound tax administration and consistent application of Ghana’s laws.
The Authority said it remained committed to administering the country’s tax laws in a fair, transparent, consistent and predictable manner.
It also urged businesses operating in Ghana to meet their tax obligations fully and promptly, while reaffirming its commitment to strengthening voluntary compliance and maintaining what it described as a fair and predictable tax environment.
Source: www.kumasimail.com
