KOSMOS

08 Feb

Use Legal Means To Challenge Imposition Of Back-Tax – GRA To Multinational Companies

wontumionlineBusinessGoldFields, GRA, KOSMOS, MTN, Tullow

The Ghana Revenue Authority (GRA) is advising multinational companies contesting the imposition of the ‘back tax’ penalties to use internal systems designed to address the issues of tax dispute. The authority in recent exercise imposed ‘back tax’ penalties on MTN, Tullow, Goldfields and Kosmos Energy. The companies have all indicated their positions to contest the claims by the GRA. But answering some questions sent to the GRA by Joy Business, the authority said the companies have the right under the GRA Law to object to the tax imposition, after which the GRA will determine the case in 30 days. If…

02 Feb

GoldFields, Kosmos Dispute Tax Bills Imposed By GRA

wontumionlineBusinessback tax bills, GRA, KOSMOS, MTN, Tullow

Mining giant, Gold Fields Limited and oil giant Kosmos Energy Limited have joined Tullow Oil and MTN Ghana for disputing ‘back tax bills’ by the Ghana Revenue Authority (GRA). The two have however declined to give financial details. Gold Fields spokesman Sven Lunsche said in response to Bloomberg that “Ghana is clearly facing fiscal and economic challenges at the moment”. “We are hopeful that the government will not resort to unreasonable fiscal measures that will further imperil the challenges facing the corporate sector.” Gold Fields is in talks with the GRA to resolve the demand for back taxes from 2018 to 2020.…