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JUDGEMENT: Court orders URA to refund excess tax to Heritage Oil in decades-long legal dispute

High Court Judge Susan Abinyo and URA Commissioner General, Musinguzi Rujoki.

The High Court’s Commercial Division Judge, Susan Abinyo, has issued an order to Uganda Revenue Authority (URA) to refund excess tax to Heritage Oil after a decades-long legal battle between the two entities with millions of dollars at stake in a complex commercial oil transaction.  On December 23rd, 2024, Judge Abinyo ruled that over USD 150 million in exploration costs such as drilling, geological surveys, among others that Heritage Oil incurred should have been accounted for during the capital gains tax computation. This, in effect, resulted into inflated tax charges on Heritage oil. According to audit firm PwC, Capital gains are…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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