Gold Fields Ghana Limited

The Ghana Revenue Authority (GRA) is asking some of the nation’s largest companies to pay millions of dollars in back taxes as the cash-strapped government scrambles to raise money and finalise a bailout from the International Monetary Fund (IMF). Gold Fields Ltd. and Kosmos Energy Ltd. have been told they owe back taxes, as have Tullow Oil Plc and Africa’s largest wireless carrier MTN Group Ltd. All of the companies dispute the government’s claims. Government has been forced to allocate most of its revenue to service an estimated 576 billion cedis ($48 billion) of public debt. “Ghana is clearly facing fiscal and economic challenges at the…