A financial audit on Bankers Petroleum by the National Agency of
Natural Resources (NANR) has noticed that the company should have
started paying VAT to the government.
The news that was confirmed by the Canadian company in their financial report for the past year has been confirmed by NANR.
The audit completed a few months ago notes that the recoverable cost might be different from what the company reports. The recoverable cost is the main indicator which shows the tax obligations that the company should pay in the state budget after making the investments. He showed in a simpler way the profit that Bankers has yet to realize to repay for all the expense.
According to the concessionary agreement. Bankers starts paying profit tax at 50% after having received back all costs for their investments. In the financial balance for the past year, Bankers claims that they have yet to take back 175 million USD.
But the NANR auditor say that the company should have started paying since 2011. If their claims will be true, Bankers should have already paid 64 million USD.
Both parties have their claims. In the financial report, Bankers says that the figures reported by them are accurate and the company has not recovered the cost. For this, they have sent their documents to the NANR. Sources from NANR say for Top Channel that after reviewing the claims, Bankers will come with a final decision on this topic.
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