The National Petroleum Authority (NPA), has suspended eight Bulk Distribution Companies (BDCs) and Oil Marketing Companies (OMCs) for tax evasion.
The announcement, which was made yesterday by the NPA through a statement, added that the culprits will be on suspension for the periods between one month and three months.
However, the suspension which had been sanctioned since July 18, 2018, is attributed to the companies’ involvement in activities that led to the loss of tax revenue for the State.
The Union Oil Ghana, Agapet Limited, Excel Oil Company, Misyl Energy Company and Global Energy Company Limited will serve one month suspension, while the Petro Afrique Company, Life Petroleum Company and the Unique Company Limited will serve three months suspension.
The NPA, per the incident, has called on Ghanaians not to do business with the above companies but rather report any infringement on the part of the culprits to the authority.
“As a result of this, the listed companies are to desist from engaging in the sale, supply, transportation, discharge and receipt of petroleum products for the duration of their suspension,” the statement noted.
It will be recalled that in June, Goldstreet Business reported that NPA’s CEO, Mr Alhassan Tampuli, complained that the challenge of export diversions in oil marketing and smuggling has become a critical national concern requiring extra attention.
He said “as the NPA churns out new strategies to combat those crimes, the smugglers also devised extra schemes to outwit the system and that this definitely required the attention of all security agencies,”
These happenings, it was alleged, may also question how the registration of petroleum product carriers was being carried out as that could be contributing significantly in creating fertile grounds for easy diversion and smuggling.
There were allegations also that some trucks are owned by persons without registered companies while others have also registered without vehicles or garages.
In June, the NPA disclosed that it has, in eight months, accrued an estimated revenue savings in taxes, levies and statutory margins amounting to GHS1.8 million.
The amount was accumulated from impounded Bulk Road Vehicles (BRVs) engaged in export diversion and smuggling, who were made to pay the statutory penalties and appropriate levies. This covers the period from September last year to May 2018.
In all, the authority said a combined total of one million litres of petrol and diesel were smuggled, with quantities valued at GHS1.3 million being trafficked through Kpone in Greater Accra, GHS287, 820 through Takoradi, GHS82, 000 through Tamale and GHS73, 800 through Tema Newtown within the period.
With that incident, the authority said it has intensified efforts to curtail the growing concerns of petroleum export diversions and smuggling.
By Wisdom Jonny-Nuekpe