Total reports $200 mln paid to Angola

PARIS, October 30, 2017 – Total paid USD 200 million to the Angolan government in Q3 2017 to settle a tax dispute, CFO Patrick de La Chevardiere said during his presentation of quarterly results Friday.

In June 2017, the Angolan Finance Ministry reached agreements with Total and other IOCs operating in the country to resolve “definitively and totally” tax issues in exchange for payments to the government.

“In order to conclude this agreement, the will and flexibility of the parties, especially the companies, was fundamental with a view to stabilising and effectively regulating the operation of the oil industry, with a solid basis and a guarantee of certainty between operators and institutions,” the ministry said in a statement at the time.

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