The Ghana Revenue Authority (GRA) has paid Strategic Mobilisation Limited (SML) a gross amount of GH¢1,400,202,403.56 from 2018 to 2023.
This was contained in the full report by audit firm KPMG on the contract between Strategic Mobilisation Limited (SML) and the Ghana Revenue Authority (GRA).
The report was released by President Akufo-Addo on Wednesday, May 22, 2024.
The audit report confirmed the GH¢1,061,054,778.00 net amount paid to SML by GRA during the period, as reported in a statement released by the Communications Director of the Presidency, Eugene Arhin, on Wednesday, April 24.
According to the report, SML was paid GH¢454,860,396.27 (gross) for transaction audit and external price verification payments and GH¢945,342,007.29 (gross) for downstream petroleum measurement payments.
Meanwhile, it has also emerged that it owes the GRA GH¢31.88 million in taxes.
The report indicated that from September 1, 2020, to April 30, 2021, a bulk payment to SML covering invoices for eight months did not have value-added tax (VAT) and withholding tax (WHT) deductions amounting to GH¢13.38 million.
It stated that this contradicts GRA’s standard practice of deducting such taxes for payments to SML between June 1, 2020, and August 31, 2023.
The report further revealed that the SML failed to fulfil its statutory obligations by neither filing returns nor remitting the taxes to GRA.
As such, it said that the accrued interest on the tax liability was estimated at GH¢18.50 million owed by SML to GRA as of January 31, 2024.
“During the period from 1 September 2020 to 30 April 2021, a bulk payment to SML covering invoices for an eight-month period did not have VAT and WHT deductions, amounting to GH¢13.38 million. This contradicts GRA’s standard practice of deducting such taxes for payments to SML between June 1, 2020, and August 31, 2023.”
“Additionally, SML failed to fulfil its statutory obligations by neither filing returns nor remitting these taxes to GRA. Pursuant to Section 71(1) of the RA Act, the accrued interest on the tax liability is estimated at GH¢18.50 million owed by SML to GRA as of January 31, 2024. Consequently, the total liability incurred by SML amounts to GH¢31.88 million,” the KPMG report stated.
“At the time of our review, we noticed the discrepancy and informed GRA, leading to their subsequent communication with SML, demanding settlement of the outstanding amount,” it said.
Source: rainbowradioonline.com
