GRA Down Chinese-Owned Sol Cement Factory Over GH¢700M Tax Evasion Between 2019 And 2022
- A Chinese factory has been closed down by tax officials for evading taxes to the tune of GH¢700 million
- Chinese-owned Sol Cement factory was closed by a team of GRA tax collectors on Monday, October 23, 2023, as part of a tax collection drive
- The firm has been cited for VAT infractions, CIT, and penalties among others which have not been paid for more than two years
Officials of the Ghana Revenue Authority (GRA) have shut down the Chinese-owned Sol Cement factory at Tema for over GH¢700 million in tax evasion.
The firm is reported to have evaded taxes amounting to the hefty sum between 2019 and 2022.
Tax evasion is an illegal activity in which a company or individual deliberately avoids paying their true tax liability.
Source: Facebook
Tax evasion is a criminal offence that carries substantial penalties for offenders.
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More than 300 workers of the cement manufacturing firm have been sent home due to the shutdown.
The GRA tax enforcement team stormed the company on Monday, October 23, 2023, to lock it up after conducting a tax audit.
Sol Cement was cited for VAT infractions, CIT, and penalties among others which have not been paid for more than two years.
In addition to the closure, the Ghana Revenue Authority (GRA) has issued a restraining order to prevent the owners and employees of the company from accessing the premises.
Joseph Annan, the leader of the operations, informed journalists that the facility would remain closed until further notice, after which the necessary legal procedures would commence.
Annan also revealed that all attempts by the GRA to collect the taxes had been unsuccessful as the company's managers had refused to clear the tax.
This is not the first time a Chinese company has been cited for a tax-related offence in Ghana.
In February 2023, managers of the Spintex Road China Mall, Sneda Shopping and the Junction Mall Shoprite were arrested over a similar offence.
The senior officers of the company were arrested by the GRA’s task force for non-payment of taxes.
The GRA was on a special operation to clamp down on companies defaulting on their tax obligations.
3 Melcom branch managers arrested for alleged tax crimes
Meanwhile, YEN.com.gh reported not long ago that three managers of the popular supermarket chain Melcom were arrested by police for alleged tax irregularities.
They were arrested at the Melcom branches in Kasoa, Achimota, and North Industrial Area on Wednesday, February 1, 2023.
GRA slammed for stationing officers at shops over as part of tax collection drive
In another story, the National Organiser of the governing New Patriotic Party (NPP) last year slammed the GRA’s latest strategy to collect taxes.
Nana B said the GRA's decision to station officers from the tax outfit at shops and businesses in the country is lame, weak, and oppressive.
Nana B has thus called on the GRA, and its public relations outfit to up public sensitisation on the payment of taxes.
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Source: YEN.com.gh
