Business News of Tuesday, 13 August 2019
The Auditor-General has accused some ten Oil Marketing Companies (OMC) of causing the state to lose about GHc33,675,044 between 2016 and 2017.
“Our review of petroleum products lifted at TOR between November 2016 and November 2017 showed that 10 OMCs defaulted in the payment of excise duties, taxes and levies amounting to GH¢33,675,044,” a report from the Auditor General stated.
The report is dubbed: The Public Accounts of Ghana Ministries, Department and Other Agencies (MDAs) for the financial year ended 31 December 2018.
The report blamed the Ghana Revenue Authority (GRA) for failing to collect tax revenue, apply measures and sanction the defaulting OMCs.
“Included in this tax irregularity was GH¢33,675,044 due from ten oil marketing companies who failed to pay taxes on petroleum products lifted at TOR between November 2016 and November 2017.”
The report stated that 11 OMCs also delayed in paying duties on products they lifted at TOR.
“Similarly, we noted that 11 OMCs delayed in paying duties on products lifted for periods ranging between one and nine months which also attracted a penalty/interest totalling GH¢783,178.”
The Auditor-General advised GRA to improve its operation to help fulfil their mandate.
“I recommended that Management of GRA should strengthen its monitoring and supervision of its staff. They should also take steps to improve efficiency in tax administration, collection and follow up on overdue taxes while applying sanctions as prescribed by the tax laws,” the report stated.
Meanwhile, Telenergy, one of the companies named in the Auditor General’s report has refuted the claims made against it.
The report claimed that Telenergy defaulted in the payment of taxes and other levies, after lifting fuel from Tema Oil Refinery, to the tune of GHc1,303,540.00.
But the company claimed that every tax amount has been paid hence it is tax compliant.
The company explained that the tax amount of GHc1,303,540 cited by the Auditor-General in relation to Residual Fuel Oil (RFO), which was loaded from TOR between the said period have been duly paid.
Below is the full statement from Telenergy: