ConocoPhillips and Perenco try to stop £140m levy from sale of oilfields in key case for tax avoidance by multinationals

Two multinational oil companies have launched a pre-emptive legal strike, seeking to stop Vietnam from collecting taxes on the profits made in a major oil deal.

An investigation by Finance Uncovered has found that ConocoPhillips and Perenco will attempt to stop the Vietnamese government from levying an estimated $179m (£140m) in taxes on the profits made from the sale of oilfields in the country. The dispute will be heard at a little-known but powerful international court, so secretive that information on the date and location of the hearing is restricted.

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