24 OMCs & other Companies facing prosecution over tax fraud- GRA reacts to 2021 A-Gs report

The Ghana Revenue Authority (GRA) has responded to concerns raised in the Auditor-General’s report for 2021.

In a statement, the Ghana Revenue Authority (GRA) stated that it has closely monitored media discussions and social media posts on the issues raised in the 2021 report regarding tax debts of Oil Marketing Companies, as well as the issue of the GH3.26 billion tax revenue ‘not accounted for after a joint audit and reconciliation of books of the Ministry of Finance, GRA, and the Controller and Accountant General’s Department (CAGD).

In its response, the AG said as of 2021, several OMCs and other businesses had defaulted on the payment of their tax debts and some had made arrangements with GRA to have those debts rescheduled for instalment payments.

However, others failed to make satisfactory arrangements to pay.

Because of this, the GRA has taken several actions against them including Blocking these companies from lifting oil; Call up of the guarantee or bond; Garnishing of their bank accounts and Sealing off of their business premises.

”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,” the response from GRA said.

It said some 24 OMCs and other companies are facing criminal prosecution at the tax court.

Below is a list of OMCs and companies currently facing criminal prosecution at the Tax Court on charges of Failure to pay Tax:

1. SEPHEM OIL CO.

2. VENUS OIL CO. LTD

3. MAIGA & HHM CO. LTD

4. HOSSANA OIL CO. LTD

5. WARREN OIL

6. MONEX MINING CO. LTD

7. KARELA OIL CO. LTD

8. UNION OIL GH LTD

9. HUMANO ENERGY LTD

10. OREINT ENERGY LTD

11. MM ENERGY

12. SKY PETROLEUM

13. Q8 OIL GH CO. LTD

14. TITAN PETROLEUM LTD

15. MANSEL GH LTD

16. STELNA SOLUTIONS LTD

17. AU RESOURCE LIMITED

18. GOLDSHOP GH. LIMITED

19. O.M MINERALS LIMITED

20. HELVENT CO. LTD.

21. CAPSTONE OIL COM. LTD

22. DELIMAN AND COM. LTD

23. UNIQUE OIL

24. LOUIS GAS

On the issue of the alleged missing Ghc3.2 billion, the GRA stated that ”The 2021 Auditor-General’s report also touches on GH₵3.26 billion tax revenue “not accounted for” after a joint audit and reconciliation of books of the Ministry of Finance, GRA and the Controller and Accountant General’s Department (CAGD).

As has been stated by the Hon. Deputy Minister of Finance, Hon John Kumah, differences in data generated by different agencies do not necessarily indicate loss of revenue to government. As required, GRA furnished the CAGD with provisional revenue figures for 2021 (GH₵60.69 billion) in March 2022. Included in this amount were Energy Sector Levies totalling GH₵3.2 billion.

In May 2022, the Audit Service conducted an audit of revenue collected by GRA in 2021 and arrived at a figure of (GH₵57.43 billion). This figure failed to take into consideration the Energy Sector Levies that GRA reports on such as Energy Debt Service, Energy Debt Recovery, Power Generation and Sanitation & Pollution levy.

These levies totalling (GH₵3.2 billion) were omitted from the Audit report even though the figures were provided.”

Read the full response below

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