Tax default: GRA to auction 7 locked-up OMCs after 10 days

The Chief Revenue Officer at the Debt Management Unit of the Ghana Revenue Authority (GRA), Nathaniel Nii Okai Tetteh has stated that the Commission will auction the properties of 7 Oil Marketing Companies (OMCs) that were locked up during their VAT Distress Action exercise which was carried out on Thursday, May 20, 2021.

He explained that thethis move is to recoup the monies these OMCs; namely Santol Limited, Grid Petroleum, Life Petroleum, Sawiz Petroleum, Deliman and Co Ltd, Petra Energy and Sonnidom Limited owe the Ghana Revenue Authority.

Mr Tetteh noted that if these affected OMCs are willing to settle their debts within 3 to 4 months, the Commissioner-General would be considerate to unattach their properties.

In an interview with the media after the exercise, the Chief Revenue Officer at the Debt Management Unit said, "The 10 days start from today so If after 10 days these ones are auctioned and the Ghana Revenue Authority has not recovered all the money, where ever we see or get any asset, it will also be attached, auctioned until we are able to recover that amount."

"The arrangement you do should be satisfactory to the Commissioner-General and that is one of the options to those indebted to Ghana Revenue Authority to pay their taxes; that’s if you are in difficulties. It is not that you owe and give Ghana Revenue Authority between 5 to 10 years. That means it seems you don’t want to pay," he added.

Below is the amount of money these closed down companies owe GRA

Santol Limited GH¢57,398,141.90

Grid Petroleum GH¢ 1,253,969.51

Life Petroleum GH¢ 1,149,946.78

Sawiz Petroleum GH¢ 5,122,387.20

Deliman and Co Ltd GH¢ 11,631,689.80

Petra Energy GH¢ 20,736,960.30

Sonnidom GH¢ 862,702.13