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Tunisian authorities issue oil company tax evaluation

Tunisian authorities issue oil company tax evaluation
The Tunisian tax authorities, relating to taxation years 2010 through 2013, have issued its tax assessments of Rigo Oil Company Limited, the wholly owned subsidiary of CYGAM Energy which is an emerging oil and gas company with interests in Tunisia and Italy, according to the report issued by CYGAM.

The report showed that taxes owing by Rigo, which operates in Tunisia, are amounted to $1.145 million (TND 1.84 million) including income taxes, withholding taxes and taxes on industrial, commercial and professional establishments, and penalties.

The report added that the Company has issued its income tax returns in Tunisia under provisions under the Hydrocarbon Code and production sharing agreements which provide an exemption from income taxes responsible for ETAP as the permit holder.