Falkland Islands Government response to Rockhopper Exploration’s Financial Information
In response to reports in the UK press regarding Rockhopper Exploration’s Financial Information release yesterday the Falkland Islands Government Treasury have released the following statement:
In accordance with usual practice the Falkland Islands Government Tax Office is reviewing the tax return submitted by Rockhopper on 17th May. However, given the extraordinary circumstances surrounding Rockhopper’s application to the High Court to cancel its share premium account, an initial tax assessment was raised by the Falkland Islands Government Tax Office on 11th June prior to agreement of the tax liability. The Falkland Islands Government is working with an international specialist valuation advisor and is confident that a mutually acceptable outcome can be reached with Rockhopper.
Nicola Granger, Commissioner of Taxation, FIG