Friday, November 17, 2023
Capricorn Energy issues a statement indicating that on November 14 it received notification that Woodside Energy had received a notice from the Senegalese Tax Authority. The notice from the Senegalese Tax Authority states that:
Under the terms of the sale agreement between Capricorn and Woodside, Capricorn is responsible for any registration duty and for any capital gains tax arising in connection with the sale of the PSC interests.
Capricorn’s analysis remains that no Senegalese registration duty or capital gains tax is payable, based on analysis at the time of the transaction. Capricorn will continue to vigorously defend its position on this matter including exercising rights under the sale agreement to participate in the defense of any such claim.