Government and Bankers conflict on taxes
14/09/2015 15:25
Opposition leader warns about November 26 protest: Don’t dare touch the angry protesters 23/11 21:09
The National Agency of Natural Resources and the Canadian company that
exploits the Patos Marinza oil, Bankers Petroleum, will address an
international audit company to resolve their financial disagreements.
Top Channel has learned that the conflict is based on a 303 million USD declared by Bankers in 2011, but the Agency says it is not justified. The recognition or not of this expense has a strong impact for the budget, since is related to the taxes the Canadian company has to pay.
The concessionary agreement foresees that after recovering the costs in Patoz Marinza, the Canadian company will pay a 50% tax on profit.
Bankers say they haven’t recovered the costs, and for this they will not pay the 50% obligations. But the Agency says Bankers has falsely increased the investment figures to 303 million without justifying it.
The Tax Directory charged Bankers with 57 million USD, which the company doesn’t accept.
The conflict might be resolved now by international audits, but the contracting procedures are still unclear.
The spending declared by the concessionary companies have been a hot topic even between experts.
Albania received revenues through royalty and other taxes, but nothing from the tax on profit, since everyone declares of not having recovered the costs yet.
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