{"id":146816,"date":"2024-02-02T13:26:58","date_gmt":"2024-02-02T13:26:58","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/02\/02\/pay-only-petroleum-revenues-into-petroleum-holding-fund\/"},"modified":"2024-02-02T13:26:58","modified_gmt":"2024-02-02T13:26:58","slug":"pay-only-petroleum-revenues-into-petroleum-holding-fund","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/02\/02\/pay-only-petroleum-revenues-into-petroleum-holding-fund\/","title":{"rendered":"Pay only petroleum revenues into Petroleum Holding Fund"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Public Interest and Accountability Committee (PIAC) has urged International Oil Companies (IOCs) to be mindful not to deposit funds other than petroleum revenues into the Petroleum Holding Fund (PHF).<\/p>\n<p>In its 2023 semi-annual report, PIAC noted that Kosmos Energy Ghana Limited mistakenly paid withholding tax into the PHF in 2020 and 2021, totalling $3,999,325.65.<\/p>\n<p>It emphasized that such actions are not conducive to the effective evaluation of petroleum revenues.<\/p>\n<p>PIAC therefore stressed that IOCs should only deposit petroleum revenues into the PHF to ensure effective monitoring and evaluation of petroleum revenues.<\/p>\n<p>\u201cTo ensure effective monitoring and evaluation of petroleum revenues, IOCs should be mindful not to pay monies other than petroleum revenues into the PHF,\u201d PIAC stated.<\/p>\n<p>\u00a0<\/p>\n<hr\/>\n<p><strong><em>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/em><\/strong><\/p>\n<p><strong><em>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/em><\/strong><\/p>\n<p><strong><em>No spam, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/em><\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Public Interest and Accountability Committee (PIAC) has urged International Oil Companies (IOCs) to be mindful not to deposit funds other than petroleum revenues into the Petroleum Holding Fund (PHF). In its 2023 semi-annual report, PIAC noted that Kosmos Energy Ghana Limited mistakenly paid withholding tax into the PHF in 2020 and 2021, totalling $3,999,325.65. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":140881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-146816","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pay only petroleum revenues into Petroleum Holding Fund - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/02\/02\/pay-only-petroleum-revenues-into-petroleum-holding-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pay only petroleum revenues into Petroleum Holding Fund - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Public Interest and Accountability Committee (PIAC) has urged International Oil Companies (IOCs) to be mindful not to deposit funds other than petroleum revenues into the Petroleum Holding Fund (PHF). In its 2023 semi-annual report, PIAC noted that Kosmos Energy Ghana Limited mistakenly paid withholding tax into the PHF in 2020 and 2021, totalling $3,999,325.65. 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