General News of 2010-06-14

Rolls Royce: IRS Boss Strikes Ken Agyapong

The Internal Revenue Service (IRS) has begun investigations into the tax records of the NPP Member of Parliament for Assin-North, Kennedy Agyapong who recently spent a near 8billion to purchase a specially manufactured Rolls-Royce saloon car despite declaring to IRS he earns a little over ¢6million old Ghana cedi, as a parliamentarian.

A highly-placed source at the IRS headquarters in Accra disclosed to the Herald newspaper, the investigations is being handled by IRS officials in the Legon Office under strict instructions from the IRS Commissioner himself, Major (Rtd) Daniel Ablor-Quarcoo.

The probe comes in the wake of revelations by the Herald that the MP paid Rolls-Royce Motors in London 249,708,00 pounds sterling, the equivalent of five billion, four hundred and ninety three million, five hundred and seventy thousand old cedi in April this year, to design one of their luxurious cars as his 50th birthday present.

The Herald newspaper discovered later that prior to purchasing the classy vehicle, IRS officials had been on the heels of Mr. Agyapong for refusing to declare his other sources of income to the tax agency aside what he takes home as monthly salary for being in Parliament. Meanwhile, further investigations conducted by The Herald linked Mr. Ken Agyapong’s name to some other companies such as Super Care Company Limited (which deals in Air Conditioners), Mina D’oro Ventures and M/S Imperial World Business Limited.

They are into the supply of energy materials for rural electrification projects. Strikingly, the two companies operate account with the Madina branch of the Agriculture Development Bank (ADB), located in a building belonging to Mr. Agyapong. It is from this building – Hollywood Shopping Arcade – that he runs KenCity Media Limited. Independent checks in Parliament also reveal that Mr. Agyapong takes a basic salary of a little over ¢6milion.

Other allowances he receives as an MP brings his consolidated salary to ¢23milion a month. Suggestions are that going strictly by what he earns as MP, which is apparently the only source of income he has declared to the tax authorities, Mr. Agyapong could not by any stretch of imagination have saved 8billion cedis to buy Rolls-Royce. The probe which was commenced last week by IRS officials, insiders told The Herald is in fulfilment of the IRS Commissioners pledge to investigate Mr. Agyapong.

The Commissioner himself had come under heavy criticism from a section of the IRS workers for chasing only “kayayei” (head porters), iced-water sellers and street hawkers for stamp tax thus allowing so-called businessmen to evade tax. Mr. Kennedy Agyapong has publicly claimed ownership of KenCity Media Limited, which manages Net2 TV, Oman FM, Spice FM, Ashh FM, National Agenda newspaper (which suffered a still birth), the National newspaper and Gold Coin communications. But the IRS officials in the Kinbu district office in Accra, custodians of the tax records of all public servants including the vice president, Speaker of Parliament, Chief Justice, MPs say the lawmaker failed to disclose his income from KenCity Media Limited when he was asked to honour his tax obligations recently. He was subsequently queried but he refused to respond.

Meanwhile The Herald has picked up information that both the Narcotics Control Board (NACOB) and the Serious Fraud Office (SFO) are keeping their eyes on Mr. Agyapong.

Source: The Herald
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