geological survey

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…