3rd Sep 2020 11:30
Sound Energy PLC - Moroccan-focused upstream gas company - Receives a written notification from the Moroccan General Tax Administration informing company its Sound Energy Morocco East Ltd wholly owned subsidiary owes additional corporate and value-added tax USD14 million. Sound Energy has called the written notification a "misunderstanding".
"According to their assessment, the historical licensing changes detailed in the notification relate the Tendrara Lakbir permit and the transfer of interest from Sound Energy Morocco SARL AU to Sound Energy Morocco East Ltd," the company adds.
Sound Energy says it plans to "formally write to the Moroccan Tax Administration to formally refute the assessment".
Current stock price: 1.58 pence
Year-to-date change: down 23%
By Paul McGowan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Sound Energy