Heritage fights 'flawed' Uganda tax ruling

Taking on the order: Heritage prepared to get in the ring of justice with Ugandan tax authorities

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By Eoin O'Cinneide

 24 November 2011 12:51 GMT

Heritage Oil is prepared to go to the Ugandan Supreme Court as it vows to appeal a taxation ruling from authorities in the central African country which it termed "fatally flawed".

The UK explorer also hinted that extensive publicity in Uganda had hampered its case arising from the sale of assets to compatriot Tullow Oil last year, while it insisted the ruling was not final.



The tax appeals tribunal in Uganda on Wednesday hit London-listed Heritage with a bill for $404 million over the $1.45 billion sale of assets to Tullow. The tribunal was running in addition to an ongoing arbitration process brought by Heritage in London in an attempt to resolve the matter.



Riled by the loss of its…

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