19 February 2016 Nigeria Tax Appeal Tribunal finds realizable price is appropriate methodology for fiscal value of crude oil The Lagos Division of the Tax Appeal Tribunal (TAT) recently ruled in favor of Chevron Nigeria Limited (Chevron or the Company) in an appeal brought before it by the Company against Nigeria's Federal Inland Revenue Service. The TAT ruled that the appropriate methodology for determining the crude oil price for the years ended December 31, 2007 and 2008 was the realizable price methodology based on the Memorandum of Understanding between the Federal Government and Chevron, and the Department of Petroleum Resources letter of January 2013. Document ID: 2016-0352 |
