Hills Oil Marketing Company sets record straight over 2018 Auditor- General’s Report

A PRESS STATEMENT ON THE DEFAULT IN TAX PAYMENT PUBLISHED BY THE 2018 AUDITOR-GENERAL’S REPORT; ISSUED BY HILLS OIL MARKETING COMPANY LIMITED

Hills Oil Marketing Company has observed with
concern, media reports and misrepresentations made by sections of the public
from the 2018 report of the Auditor- General’s Department suggesting inter alia:

1. Hills Oil Marketing
   Company has defaulted in the payment of excise duties, taxes and levies
   amounting to GHS 64,024.80.

• Hills Oil Marketing is
  liable to penalty/interest on delayed payment of excise duties amounting to
  GHS13,809.70 on petroleum products lifted;

Hills Oil Marketing finds these allegations as
unfortunate and undesirable and views them as factual inexactitude and
therefore, wishes to clarify the issue.

1. The
   reported tax liability of GHS 64,024.80 is alien to Hills Oil; considering that
   the records available to Hills Oil does not indicate any such liability of GHS
   64,024.80 payable to the Ghana Revenue Authority as excise duties, taxes and or
   levies.

• Hills oil wants to
  place on record that penalty/interest on delayed payment of excise duties
  amounting to GHS13, 809.70 on petroleum products lifted has been paid.  A simple post-audit examination
  would have confirmed this.

• In
  order that we can resolve this matter expeditiously, Hills Oil Company has provided the Customs Division of the
  Ghana Revenue Authority and the Auditor General’s Department with all
  supporting documents attesting to full payment of its excise duties, taxes and
  levies on petroleum products lifted at the Tema Oil Refinery.   

• Hills Oil has
  requested the Customs Division of the Ghana Revenue Authority to bring this
  matter to an expeditious conclusion to forestall any further
  misrepresentation. 

We assure our customers, stakeholders and the
public that, as a licensed oil marketing company, our compliance with the
regulations of the petroleum industry and the laws of Ghana remains unrivalled
as we cooperate fully with regulators.

Signed

General Manager

Hills Oil Marketing Company Limited

15^th August 2019