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On the 23rd of December, 2024, four ABMAK Associates’ lawyers made their mark by securing a fair ruling for Heritage Oil in a protracted legal battle against Uganda Revenue Authority at the High Court’s Commercial Division, in which, Justice Susan Abinyo issued an order to the Taxman to refund excess tax to Heritage Oil. Heritage Oil was represented by lawyers including Denis Kusaasira jointly with Festus Akunobera, Joshua Byabashaija, and Steven Kabuye. The CEO Magazine spotlights the career profiles of the ABMAK lawyers who took the shine away from the URA legal team in the complex case. Denis Kusaasira-Partner Denis…
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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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