An anti-corruption group, the Movement for Truth and Accountability has sued Trust Link Ventures Limited for allegedly causing financial loss to the state in the sum of USD 7,214,868.42.
According to the writ of summons dated February 3, 2022, official available data confirmed that in the year 2019, the company in question declared $8,730,450.00 as amount transferred outside the country ostensibly for the importation of goods but ended up bringing in goods worth $22, 045,736.85 without any supporting Import Declaration Forms (IDF).
The plaintiff (Movement for Truth and Accountability) further claims that in the same year, the company imported goods worth 500,200.95 euros and 15,732,914.30 euros into the country without any IDF.
The value of the goods bought, the writ revealed, did not correspond with the amount transferred outside the country as per the amount quoted on the IDF to Trust Link Ventures Limited.
It also claimed that the company’s involvement in the breach of anti-money laundering and tax laws of Ghana had been confirmed by the Bank of Ghana and the Ghana Revenue Authority (GRA).
According to the writ, the company in question is subject to the laws of Ghana in all its commercial activities, especially with regards to its tax obligation and duty to comply with the anti-money laundering laws of Ghana.
Meanwhile, it said the GRA, which had the mandate under the law to hold and prevent the company overreaching the economic interest of the country, allegedly failed or refused to exercise that power to ensure compliance with the tax and trade statutes of the country.
The writ is therefore urging the court to order the company to account for the IDF supporting the total amount of money used to import goods in the year 2019.
It is also seeking the court to direct the GRA to publish the various sums of money used by the company in 2019 without the requisite supporting IDFs.
The writ is further praying the court to ensure Trust Link Ventures Limited pays to the State, relevant penalties or liabilities for its alleged breaches of the tax and anti-money laundering laws of the country.
BY RAISSA SAMBOU
