NPA suspends 8 oil companies for evading tax

By Maame Aba Afful
NPA suspends 8 Oil Companies for evading Tax
NPA suspends 8 Oil Companies for evading Tax

The National Petroleum Authority (NPA) has suspended eight Oil Marketing Companies (OMCs) and Bulk Distribution Companies (BDCs) for tax evasion.

 Union Oil Ghana Limited, Agapet Limited, Excel Oil Company Limited, Misyl Energy Company Limited and Globex Energy Company Limited have been suspended for one month, while Petro Afrique, Life Petroleum, and Unique Company Limited have been handed three months suspension for their involvement in activities that led to loss of tax revenue to the Government of Ghana.

The sanctions, contained in a press release from the NPA dated 24 July 2018, are effective 28 July 2018.

The NPA has consequently asked the affected companies to desist from engaging in the sale, supply, transportation, discharge, and receipt of petroleum products for the duration of their suspension.

“The public is therefore advised to desist from doing business with or report any infringement on the part of the listed companies to the NPA,” the statement said.