The government of Guyana saved Exxonmobil Guyana Limited the payment of 197 billion dollars in taxes during the past two years, which is ultimately a depiction of the Guyanese government's stance against Venezuelan sovereignty. teleSUR
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00:00The government of Guyana saved ExxonMobil-Guyana Limited the payment of $197 billion in taxes
00:07during the past two years.
00:09According to the oil giant's 2023 annual report, cited by Guyana's Cater News, the
00:15Guyanese government paid the amount on behalf of the Guyana Revenue Authority.
00:19The company explained in the report that while it is subject to Guyana's income tax laws,
00:25the taxes on the company's operation are paid by the government rather than the company
00:29itself.
00:30The tax exception is reportedly part of what is considered a loop-side production-sharing
00:35agreement that Guyana's coalition government signed with the US oil giant in 2016, a move
00:42that observers have deemed contrary to the will and interest of the Guyanese people.
00:47Exxon is the 45% stake operator in the 6.6 million-acre oil Stradbroke block of Guyana's
00:55Atlantic coast and has been instrumental in the Guyanese government's stance against
00:59the Venezuelan sovereignty.