2 company officials granted GH₵1m bail for alleged tax evasion

A Tax Court has granted one million Ghana Cedis bail to AkoliyaVinodkumarMaganbhai and AkoliyaVisarambhaiNaranbhai, Director and Chairman respectively of BGC International DMCC Ghana Limited, for evading tax.

Mr Fred Kofi Frimpong, counsel for accused told the court that accused were opposed to GH₵21,948,165.45 quoted in the charge sheet as tax owed the state.

MrFrimpongsaid accused would reconcile the amount with the prosecution, adding that accused the company that had been in the country for over 20 years, had established seven businesses.

A Tax audit conducted by officers of the Ghana Revenue Authority (GRA) on BGC International DMCC Ghana Limited, a precious mineral refiner and exporter, for the period 2016 to 2018,allegedly established a total tax liability of GH₵21,948,165.45.

The tax liability was made up of withholding tax, Directors PAYE, Corporate income tax and accrued interest.

MsRebecca Edufo-Abraham, an Assistant Revenue Officer, told the court that the Company in a letter dated February 19, 2020, authorized the national security coordinator to pay to the GRA GH₵1,070,415.79 for the company’s outstanding corporate tax and PAYE.

 She said the company had so far paid GH₵64,000.00 leaving a balance of GH₵21,884,165.45.

The court heard that a garnishee order served on the bankers of the company yielded just over GH₵2,000.00

MsEdufo-Abraham said several requests were made to accused to ensure that the company paid the outstanding tax.

She said the company failed to honour its tax obligation to the State, and “accused were served with criminal summons to appear before the court to answer the charge preferred against them.” – GNA

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