Friday, February 21, 2014

Gabon tells French Total oil company to pay $805 million in back taxes

Gabon's government has told French oil major Total's local subsidiary to pay $805 million in back taxes from 2008 to 2010, in a case watched closely by potential new investors in the West African country's energy sector. However, Total Gabon said it would challenge the tax demand, which follows a state audit of the former OPEC member's petroleum industry that began in 2010.

The company said it "considers this tax adjustment unfounded" and was confident that discussions with the

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