Source: Ghana | Myjoyonline.com | JTM
The Ghana Revenue Authority (GRA) has launched an investigation into a possible transfer pricing by the Ghana Bauxite Company (GBC) at Awaso in the Western Region.
According to the tax agency, the mining firm has failed to pay corporate taxes on its production.
This comes on the heels of a Joy News investigation, which uncovered how the Ghana Bauxite Company evaded the payment of penalty for overloading haulage trucks to the tune of more than 90 million dollars over a period of six years.
That money could provide an 80-kilometre two-lane paved road, 200 six-unit classroom blocks, 100 CHPS compounds in rural communities, 578 boreholes in areas with no pipe borne water and there would still be about 10 million dollars remaining.
This was done in connivance with some officials of the Ghana Highways Authority who operate the weigh-bridges.
After a year-long investigation, Joy News’ Kwetey Nartey found that the state lost as much as 22 million dollars in 2017 alone.
Deputy Commissioner at the GRA in charge of Larger Taxpayer, Edward Gyamerah, says its audit has established that the Ghana Bauxite Company has been selling bauxite to its mother company in China at a cheaper price.
He told Joy FM Super Morning Show host Daniel Dadzie Tuesday that, GBC is likely to be made to refund 100% of the taxes that it evaded over the period if the investigations found them guilty of evading tax.
In February 2018, Vice President Dr Mahamudu Bawumia questioned why a bauxite company had been mining for five years without paying anything to government.
Suspension of weighbridge contracts
Meanwhile, the Roads and Highways Ministry has also suspended contracts of private weighbridge operators across the country.
Axle Load Manager at the Ghana Highways Authority, Nicholas Brown, says their checks reveal the Ghana Bauxite Company haulage trucks have been overloading.
The practise has compelled them to terminate the contract of the private operator of the Bogoso Weighbridge contactor.