"Bunyoro demands share of pre-production oil cash"
Bunyoro Kingdom officials are demanding royalties from the pre-oil production revenues. More than 80 Bunyoro officials led by the kingdom’s First Deputy Prime Minister and minister for Lands Joseph Xavier Kiiza, on Friday visited selected oil sites in the Albertine Graben and asked government for part of the proceeds from the oil revenues. “Government earned capital gains taxes and signature bonuses. We feel that those were oil funds where we should have earned one per cent of royalties,” Mr Kiiza told the press shortly after the trip organised by oil companies.
In a June 22 statement posted on its official website, Tullow Oil announced that following constructive discussions with the government of Uganda and Uganda Revenue Authority, it agreed to pay $250m (about Shs825.3 billion) in full and final settlement of its capital gains tax liability...
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