NPA clears Globex Energy Limited over Tax Evasion

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The National Petroleum Authority (NPA) has cleared Globex Energy Limited to do business in all petroleum downstream activities that were hitherto suspended by the Authority.

In a letter dated August 3, 2018, NPA said Globex Energy is free to resume all petroleum downstream activities that were hitherto suspended by the authority.

As was released by the Corporate and Regulatory Affairs Department of the Ghana Chamber of Bulk Distributors, Globex Energy Limited was not suspended because of tax evasion adding that ‘it was inaccurate and unintendedly misleading for the NPA to state that it was suspended for tax evasion.

It said Bulk Oil Distributors (BDC’s) do not collect petroleum taxes in the petroleum tax administration process, indicating that “this function is the sole preserve of OMC’s. The taxes are to be paid by OMC’s after reconciliation with the GRA, subject to agreed payment terms”.

Globex Energy Limited has abided by the rules and regulations of the National Petroleum Authority (NPA) since it started operating and is committed as indigenous company to continue to abide by the NPA rules and regulations.

Globex Energy Limited therefore wishes to assure its stakeholders that it will continue to abide by the rules and regulations as it has been doing always to foster better working relationship.

 

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