Ghana has won an international tax dispute against oil producer Tullow Oil after an arbitral tribunal dismissed all claims filed by the company.

The tribunal upheld a $393.09 million tax assessment issued by the Ghana Revenue Authority (GRA), marking a significant development in the long-running tax dispute.

The tribunal found that the GRA’s assessment did not breach Ghana’s Petroleum Agreements with Tullow Oil. It also ruled that the penalty imposed by the GRA was properly applied.

The tribunal further determined that the tax assessment was not time-barred and that the GRA’s enforcement action was lawful.

The ruling means the claims brought by Tullow Oil in the case have been dismissed, with the tribunal supporting the validity of the GRA’s assessment.

The development is significant for Ghana’s tax administration and petroleum sector, as disputes involving major international companies can have implications for government revenue and the interpretation of petroleum agreements.

The case also highlights the importance of tax compliance and the legal processes available when disagreements arise between governments and international businesses.

Ghana’s victory in the case adds another chapter to the country’s tax relationship with Tullow Oil as authorities continue efforts to enforce applicable tax obligations.