Three MDs arrested for evading tax on diesel to the tune of GH¢470,000

Three MDs arrested for evading tax on diesel to the tune of GH¢470,000

- The three are alleged to have imported the diesel into the country without authorisation

- Also preliminary investigations by the CID revealed that the three persons had used Timax Development Group to import diesel under the cover of waste oil

Three Managing Directors (MDs) of companies in Tema are in the grips of the Ghana Police following allegations of tax evasion to a tune of GH¢470,000.

The three MDs, identified as Godson Akafo of Western Marine Company; Micheal Ologo of Timax Development Group and Justice Yaw Asare of Marine Tanker Wood Spirit, have been accused of importing diesel without the knowledge of the National Petroleum Authority (NPA).

Three MDs arrested for evading tax on diesel to the tune of GH¢470,000

The Managing Directors (MDs) of three companies in Tema have been busted

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They are reported to have connived with some members of the NPA and Tema Oil Refinery (TOR) to evade taxes worth up to GH¢470,000, after dubiously categorising diesel as waste oil during importation.

The three MDs are currently in the grips of the Police, however, the National Security is still on the hunt for the officials of TOR and NPA who helped them perpetrate the act.

Director-General of the CID, Mr Bright Oduro, confirmed to Graphic Online that they were collaborating with the Criminal Investigative Department (CID) to arrest all persons who were involved in the fraudulent act.

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He also revealed that operators in the oil sector had devised new ways of evading tax, adding that the nation loses millions of cedis due to the reluctance of some companies to honour their tax obligations.

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Source: Yen.com.gh

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