Goil, 9 other OMCs default in TOR liftings totalling GHS34.5m – A-G

0
812

Auditor-General (A-G) Daniel Yaw Domelevo has cited 10 Oil Marketing Companies (OMCs) for defaulting in payments in relation to petroleum liftings from the Tema Oil Revenue (TOR) to the tune of GHS34,458,222.

“Our review of petroleum products lifted at TOR between November 2016 and November 2017 showed that OMCs defaulted in the payment of excise duties, taxes and levies amounting to GHS33,675,044,” the annual report on Public Accounts of Ghana (PAG) as of 31 December 2018 on Ministries, Departments and Agencies (MDAs), said.

The OMCs are: Agapet, Nasona, Radiance Petroleum Ltd., Tel Ernergy Ltd., So Energy, Star Oil, Goil, Hills Oil, Champion Oil, and Glee Oil.

The report said similarly, it noted that 11 OMCs delayed in paying duties on products lifted for periods ranging between one and nine months which also attracted a penalty/interest totalling GHS783,178.

The table below provides the details:

According to the report, Section 32 of the Excise Duty Act 2014, (Act 878) states that, a manufacturer who fails to make a payment required under this act to the Commissioner-General by the due date is liable to pay a penalty of 15% of the amount due and an interest of 5% of the amount due for each day that the failure continues.

The A-G attributed the anomalies to the failure to perform reconciliation on the actual petroleum liftings with the declarations and actual payments as well as weak oversight on OMCs with respect to penalties and interest payments.

“We advised the Sector Commander to strengthen its control on OMCs to ensure that regular reconciliations are performed and penalties and interest payments are also paid on time. We recommended to the Sector Commander to recover the amount of GH¢33,675,044 from the OMCs involved,” the report added.

ClassFM

LEAVE A REPLY

Please enter your comment!
Please enter your name here