The Ghana Revenue Authority (GRA) says a total of 24 Oil Marketing Companies (OMCs) are being prosecuted for tax default. Others are also facing sanctions, including refusing to allow them to lift oil and also garnishing of bank accounts.
The Authority has taken further steps to call up the OMCs’ guarantees or bonds and sealing off of their business premises. The action followed the 2021 Auditor-General Report that a number of OMCs and other businesses had defaulted on the payment of their taxes.
This was contained in a news release issued by the GRA, dated September 23, 2022, and signed by Florence Asante, with the headline, “Reaction to issues raised in the 2021 Auditor-General’s Report.”
The news release indicated that the GRA was compelled to take these actions, because while some of the OMCs had made arrangements with the Authority to have their tax indebtedness settled at a stipulated time, others continue to issue blank cheques.
“When all these measures fail to yield the desired results, directors of businesses are prosecuted at the Tax Court for non-payment of tax debts. Risk profiling of OMCs and Insurance Companies that guarantee the bonds has also been carried out to streamline processes and ensure that only businesses in good standing lift oil,” it added.
OMCs that had allegedly evaded taxes and were being prosecuted are Sephem Oil Co., Venus Oil Co. Limited, Maiga & Hhm Company Limited, Hossana Oil Company Limited, Warren Oil, Monex Mining Company Limited, Karela Oil Company Limited, Union Oil Ghana Limited, Humano Energy Limited, Oreint Energy Limited, Mm Energy, Sky Petroleum, Q8 Oil Ghana Company Limited, and Titan Petroleum Limited.
The rest are, Mansel Ghana Limited, Stelna Solutions Limited, Au Resource Limited, Goldshop Ghana Limited, O.M. Minerals Limited, Helvent Company Limited, Capstone Oil Company Limited, Deliman and Company Limited, Unique Oil and Louis Gas.
Still on the AG’s report, the GRA maintained that it realised GH¢60.99 billion instead of GH¢57.43 billion captured in the 2021 Report.
According to the Authority, the Auditor-General by extension failed to add revenues such as Energy Debt Service, Energy Debt Recovery, Power Generation, and Sanitation & Pollution levies, which amount GH¢3.2 billion.
