Tullow pays $313.5m in taxes to Ghana

Tullow has announced that it has paid the Government of Ghana, a total of 313.5 million dollars in taxes in 2014.

The cash comprises both direct and indirect taxes.

Of the 313.5 million dollars, 115 million dollars went into income tax, 43.5 million dollars went into withholding tax, while 4.6 million dollars and 3.8 million dollars went into custom duties and Value Added Tax (VAT), respectively.

Sixty-three million dollars was paid for the TEN carry for Ghana National Petroleum Corporation (GNPC).

Tullow also paid 16.2 million dollars in PAYE and national insurance.

The oil giant also paid 2.1 million dollars for infrastructure improvements payments, 52,000 dollars into license fees and 250,000 dollars in training allowances.

All these payments amounted to 249.5 million dollars.

Tullow which is the lead operator of the Jubilee field says government received 658,000 barrels of oil as its production entitlement from the jubilee field.

This according to Tullow resulted in a payment of 64 million dollars.

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