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Contaminated Oil Saga: Minority Accuses Movenpinaa Of Evading Taxes
 
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29-Jun-2017  
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Ato Forson
 
 
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The Minority in Parliament has accused the oil firm at the centre of the contaminated fuel saga, Movenpinaa, of tax evasion.

In a new twist to the ongoing controversy, Minority Spokesperson on Finance, Ato Forson, is asking the Ghana Revenue Authority (GRA) to go after the company and retrieve the unpaid taxes accruing from the transaction between the oil firm and the Bulk Oil Storage and Transportation Company Limited (BOST).

BOST sold five million litres of contaminated fuel to Movenpinaa, a deal that has snowballed into a raging controversy following revelations the below-standard product has found its way to the pumps. The Minority says at least GH¢14 million in financial malfeasance occurred when the five million litres of oil was acquired by Movenpinaa.

Movenpinaa subsequently re-sold the contaminated oil to Zup Oil in a transaction the minority has also described as fraudulent. The National Petroleum Authority (NPA), the industry regulator, has said the two companies are not licensed to operate in the oil and gas sector.

Speaking to Joy News, Ato Forson said granted that aspects of the GH¢ 14 million are taxes, the GRA must still find out if Movenpinaa paid the requisite taxes.

 “This is a company that is not even registered, how can the GRA even come to know of them? This is a company that is regulated so it is difficult for us to sit here and conclude. It is for that reason that we are asking GRA to ensure that the taxes that should have accrued to the state are actually collected,” he said.

Meanwhile, an eight-member investigative committee has been set up to look into the controversial oil transaction.

The committee is mandated to determine the circumstances that led to the contamination of the fuel and review the transaction.

The committee will also review the procedures undertaken by BOST to evacuate the product and ascertain the quality and remaining quantity of the product.


 
 
 
Source: myjoyonline.com
 
 

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