The Ghana Revenue Authority (GRA) has welcomed an arbitral tribunal’s decision to dismiss claims brought by Tullow Ghana Limited over the taxation of business interruption insurance proceeds.

The tribunal upheld the GRA’s tax assessment of US$393,091,993.70 against Tullow Ghana, according to a statement issued by the Authority on Wednesday, September 30, 2026.

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The GRA said the tribunal, constituted under the Rules of Arbitration of the International Chamber of Commerce, also determined that the assessment did not breach the applicable Petroleum Agreements.

It further ruled that the assessment was not time-barred and that the GRA’s enforcement action was lawful.

The Authority said the decision supports its position that the tax assessment was made in accordance with Ghana’s tax laws.

“The outcome reinforces the principle that all taxpayers, irrespective of their size or sector, are subject to the laws of the Republic,” the GRA said in the statement.

The GRA said it recognised the contribution of the petroleum sector to Ghana’s economy but stressed that its responsibility was to administer the country’s tax laws fairly, transparently and consistently.

It said it would continue to ensure that taxpayers are treated fairly while maintaining a stable and predictable environment for legitimate businesses and investors.

The GRA also acknowledged the role of the Government of Ghana and the support of the Office of the Attorney-General and Ministry of Justice, the Ministry of Finance and Ghana’s external legal counsel, Foley Hoag LLP, during the proceedings.

The Authority commended its officers and technical teams for what it described as their professional work and diligence in defending the assessment.

According to the GRA, the ruling highlights the importance of strong institutions, sound tax administration and the consistent application of Ghana’s laws.

The Authority said it would work with the government and Tullow Ghana Limited to implement the award in accordance with Ghanaian law.

It added that implementation would take into account the need to secure revenues lawfully due to the State while supporting the continuity of operations and investment in the Jubilee and TEN oil fields.

The GRA further urged businesses operating in Ghana to continue meeting their tax obligations fully and promptly.

It said it remained committed to administering Ghana’s tax laws “without fear or favour” while strengthening voluntary compliance and maintaining a fair and predictable tax environment.



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