GRA takes company to court over alleged GHC21.9m tax evasion

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BGC International DMCC Ghana Limited, which allegedly evaded tax for a total of GH?21,948,165.45, was sued by the Ghana Revenue Authority (GRA).

The company’s tax payable for the period 2016 to 2018 is made up of withholding tax, directors Pay As You Earn (PAYE), income tax and accrued interest.

The GRA, the institution responsible for assessing, collecting and accounting for taxes and duties, sued the company in the Accra High Court and joined AkoliyaVinodkumarMaganbhai and AkoliyaVisarambhaiNaranbhai, Director and Chairman, as defendants.

Appearing before Court of Appeal Judge Margaret Melborne, sitting with additional responsibility as a High Court Judge, the prosecutor, Rebecca Eduafo-Abraham, Deputy Revenue Officer, said the GRA had carried out a tax audit on the company for the period 2016 to 2018.

She said GRA staff established a total tax liability of GH21,948,165.45? consisting of withholding tax, PAYE administrators, corporate income tax and accrued interest against BGC International Ghana Limited.

The court heard that the company was a registered taxpayer with the Ghana Revenue Authority and engaged in the refining and export of precious metals.

Ms. Eduafo-Abraham said the company, in a letter dated February 19, 2020, authorized the National Security Coordinator to pay the GRA the sum of GH?1,070,415.79? for the company’s unpaid CORPORATE TAX and PAYE.

The prosecutor told the court that BCG International Ghana Limited had so far paid GH?C 64,000.00, leaving an unpaid debt of GH?21,884,165.45.

Following this, she said a garnishment order served on the company’s bankers yielded just over GH2,000.00?

Ms Eduafo-Abraham said several demands were made of the defendant for the company to pay the tax due.

However, the defendants had failed to honor their obligations to the state.

The prosecutor told the court that the defendants were therefore served with a criminal summons to appear in court to answer the charge against them.

The defendants were granted bail of one million Ghanaian cedis each, two sureties, one to be accounted for

The court ordered them to deposit their passports with the registrar.

The case was adjourned to May 11.


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