Tullow wins Heritage tax case

London’s Commercial Court has ruled that Heritage must reimburse Tullow Oil for a disputed $313m tax payment, in a case highlighting the complex behind-the-scenes negotiations involved in putting together a major oil deal in Africa. 
The Ugandan Revenue Authority sought the amount as capital gains tax on Heritage Oil after it earned $1.45bn from the January 2010 sale of its assets to Tullow. Heritage disputed the payment, so Tullow paid the tax to enable the sale and subsequent farm-down to go ahead.