Source: taxjustice.net 10 May 2017
The East African press is reporting that Uganda’s former Energy Minister, Syda Bhumba, has confirmed that she signed a tax waiver agreement with UK company, Tullow Oil, without reading the document.
Time and again, oil and mineral rich African countries have been skinned alive by rapacious mining and oil companies who extract huge tax reliefs, exemptions and holidays from hapless and/or corrupt politicians.
There’s no doubt that this kind of thing happens in many countries around the world.
The waiver, which exempted both income and capital gains from tax, is being disputed by the Uganda Revenue Authority on the grounds that Bhumba had no authority to sign such a waiver since authority in this area lies with the Finance Minister.