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NPA clears Globex Energy over tax evasion

  • SOURCE: thebftonline.com | BusinessAndFinancialTimes
  • The National Petroleum Authority (NPA) has cleared Globex Energy Limited to do business in all petroleum downstream activities.

    The NPA suspended Globex Energy Limited together with other oil companies over tax evasion.

    A spokesperson for the company, by a letter dated 3 August, 2018, said the NPA cleared the company to resume business in the petroleum downstream activities.

    It would be recalled that earlier when the press release suspending Globex Company for tax evasion was published, the Ghana Chamber of Bulk Distributors (GCBOD), came to the defence of Globex Energy Limited that the suspension of that company was not for tax evasion but rather for under declaration of volumes of sales.

    As was released by the Corporate and Regulatory Affairs Department of the Ghana Chamber of Bulk Distributors, Globex Energy Limited was not suspended because of tax evasion adding that ‘it was inaccurate and unintendedly misleading for the NPA to state that it was suspended for tax evasion.

    It said Bulk Oil Distributors (BDC’s) do not collect petroleum taxes in the petroleum tax administration process, indicating that “this function is the sole preserve of OMC’s. The taxes are to be paid by OMC’s after reconciliation with the GRA, subject to agreed payment terms”.

    Globex Energy Limited   assured its stakeholders that it will continue to abide by the rules and regulations of the energy sector and foster better working relations with all players in the energy sector.

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