ICC London rules in favor of Ghana against Tullow over $400m tax charge

For some, the ruling should mean that the Government of Ghana can now go ahead and let Tullow pay the almost US$400 million tax charges on some loan interest deductions and corporate insurance issues.

The Arbitration for International Chamber of Commerce in London has ruled in favor of the Government against Tullow Oil over about US$400 million tax charge.

However, it is not clear for now if the Government of Ghana may move to enforce this ruling due to the possible impact on Tullow oil and its operations in Ghana.