The fate of Sol Cement, a Chinese-owned cement manufacturing company remains in limbo after the Ghana Revenue Authority closed down its operations over unpaid taxes amounting to GH¢700 million.
Almost a week after the action was carried out, the company’s premises and its officials have been restrained from accessing the facility following an order issued by the revenue arm of the government, GRA.
Checks by GhanaWeb Business on Monday, October 30, 2023, at the premises of Sol Cement, which is located in the Tema Industrial Area, showed no sign of activity with only security personnel left at the post.
One personnel who spoke on condition of anonymity told GhanaWeb Business that they are only now relying on the hope that the situation will be addressed in due course. So far, over 300 workers of Sol Cement were asked to go home after the GRA carried out the exercise after an audit.
The Chinese-owned company was cited for Value Added Tax (VAT) infractions, Corporate Income Tax avoidance, and penalties, among others which have not been paid for more than two years.
The move by the GRA forms part of its tax compliance measures to ensure that both small and large companies, either foreign or domestic, comply with the tax laws of Ghana.
In addition, efforts by GhanaWeb Business in reaching out to GRA on the way forward for the company have proven futile as at the time of filing this report.
Meanwhile, companies operating within the cement manufacturing sector and other sectors of the Ghanaian economy are hereby expected to comply with the requisite tax laws to avoid a situation of this kind.
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