Uganda wins the arbitration tax case in London against Heritage Oil

Uganda wins the arbitration tax case in London against Heritage Oil

Uganda has won the US $434 Million tax case against Heritage Oil. The case arouse out of the capital gain tax dispute which has dragged on over the years, first it was decided by Uganda'ss tax appeals tribunal and Heritage Oil went all the way to the UNICITRAL the arbitrarily body agreed to in the production sharing agreement.
The capital gain arose from Heritage Oil sell of their interests to Tullow Oil in Uganda. It is this same case that the Lawyer for HERITAGE Oil claimed Tullow Oil tried to bribe Museveni so as to influence new interests. Here is the link
http://www.newvision.co.ug/article/fullstory.aspx?story_id=641319&catid=1&mid=53&utm_source=twitterfeed&utm_medium=twitter