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ExxonMobil Sues US Over Taxes

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There is a suit against the US seeking a partial refund of $2.1 billion in taxes and penalties tied to a Middle East gas project in Qatar, according to a filing by ExxonMobil Corporation on Friday in the US district court in Dallas.

ExxonMobil and QatarEnergy have a partnership to explore and develop offshore natural gas reserves in the North Field, one of the world’s largest.

Its lawsuit alleges overpayment of income taxes and misclassified agreements as purchases and not leases.

The US “has erroneously collected taxes and assessed penalties that were not owed for tax years 2010 and 2011,” Exxon alleged in the filing.

While an abatement is pending, the US Internal Revenue Service has not respected the partnership’s decision to finance its business venture with debt, ExxonMobil said.

For more information visit corporate.exxonmobil.com