Oil companies

Seventeen Oil Marketing Companies (OMCs) did not pay duties and taxes totalling GH¢249,800,802.28 on 219,995,530 litres of fuel products lifted for the period January 2020 to December 2021. The Auditor General’s report on the audit of ministries, departments and agencies noted the discrepancy from the Integrated Customs Management System (ICUMS). Twenty-eight Oil OMCs failed to settle their rescheduled debts of GH¢402,049,571.70. This is contrary to Section 47 of the Revenue Administration Act, 2016 (Act 915). The law provides that a taxpayer may apply in writing to the Commissioner-General for an extension of time to pay tax under the tax law.…