masabahouse (masabahouse) wrote,
masabahouse
masabahouse

Uganda sets tax for Heritage asset sale: source



KAMPALA (Reuters) - Uganda will levy a 30 percent capital gains tax on Heritage Oil's sale of its exploration assets in the country to Tullow Oil, a source at the Uganda Revenue Authority (URA) said on Friday.

Heritage signed a sales and purchase agreement with Tullow in January after the latter exercised its pre-emption rights over Heritage's sale of its half-share stake in the exploration areas 1 and 3A.

For more read: http://af.reuters.com/article/investingNews/idAFJOE61B0DR20100212
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