Presidency, GRA, national security fingered in GHC1.88bn petroleum revenue loss

Presidency, GRA, national security fingered in GHC1.88bn petroleum revenue loss

- The government has lost GHC1.88bn in petroleum revenue leakages through nefarious actors in 2017

- The revenue losses contained in a report authored by the Ghana Chamber of Bulk Oil Distributors

The Ghana Chamber of Bulk Oil Distributors has disclosed that certain untoward actions of the Ghana Revenue Authority, the presidency and national security, have led to loss of state funds to the tune of GHC1.88 billion.

A report released by the Ghana Chamber of Bulk Oil Distributors said the huge revenue losses were as a result of certain criminal acts perpetrated at the aforementioned state institutions.

The report cited unabated smuggling, export dumping and under-declaring of receipts as three of the main ill actions draining the national coffers.

Presidency, GRA, national security fingered in GHC1.88bn petroleum revenue loss

President Akufo-Addo

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In export dumping, some players take advantage of a government policy that allows petroleum products to be exported to countries like Burkina Faso and Togo without slapping taxes on them.

The Chamber said some unscrupulous persons also buy petroleum products from Ghana under the guise of selling the products to neighbouring countries, but turn back to release the products into the Ghanaian market.

Touching on under-reporting, it was revealed that taxes collected under the Energy Sector Levies are routinely under-declared.

The report said although government earned 3.87bn in 2016, only 3.29bn was reported to Parliament.

The CEO of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi, lamented the situation, saying some persons in top positions have collaborated to drain the national coffers.

You can't just get into certain parts of the market without collaboration,” he told Accra-based Joy FM, adding that "the GRA is at the heart of most of these leakages".

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Although he refused to mention names, Mr. Hosi said it is an “open secret” what happens in the petroleum downstream.

"I don't think the people who matter don't know,” he added.

According to him, whiles he appreciates the efforts of the Chief Executive of the National Petroleum Authority (NPA) Hassan Tampuli, he is "a lone ranger" incapable of changing the status quo.

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Source: Yen.com.gh

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