03
Aug
The Revenue Assurance, Compliance and Enforcement (RACE) of the Ministry of Finance has retrieved ¢24.2 million as tax under recovery from some Oil Marketing Companies and a commercial bank. This follows validation of tax payments for the lifting of refined petroleum products. According to the Ministry, the Revenue Assurance, Compliance and Enforcement (RACE) team of the Ministry of Finance concluded the first phase of engagements with 99 out of 117 OMCs to validate tax payments for the lifting of refined petroleum products. The engagements involved GRA, the National Petroleum Authority (NPA), the Association of Oil Marketing Companies (AOMCs), and some…