Supreme Court Upholds $6.9M Tax Debt Against Halliburton West Africa

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The Supreme Court has ruled that Halliburton West Africa Limited must pay a $6.9 million tax debt to the Nigerian government. This case dates back to 2002 when the Federal Board of Inland Revenue Service assessed additional taxes on Halliburton for revenue earned between 1996 and 1999. The dispute arose over contracts secured by Halliburton and executed by its Nigerian subsidiary, Halliburton Energy Services Nigeria Limited, with transactions billed in dollars. The Body of Appeal Commissioners upheld the tax assessment, classifying the revenue as "recharges" and affirming the payment obligation. Watch now for full details on this significant ruling.
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