44 Oil Marketing Companies owe BOST GH¢59.525 Million – Auditor General reveals  

The 2023 Auditor General’s Report has uncovered several financial and procedural irregularities involving Oil Marketing Companies (OMCs) and the Bulk Oil Storage and Transportation Company (BOST).

As of December 31, 2022, 44 OMCs owed BOST a total of GH¢59.525 million in margin levies. The Auditor General recommended that BOST management take immediate action, including legal measures, to recover this amount and provide verification to the audit team.

In addition to the unpaid levies, the report identified procurement irregularities at BOST. Management procured goods and services worth GH¢886,771 from five suppliers/service providers, accepting Tax Clearance Certificates (TCCs) with identical serial numbers issued from different Taxpayer Service Centres and on different dates.

The Auditor General recommended an investigation into this irregularity and reporting any culpable companies to the Public Procurement Authority and the Ghana Revenue Authority. Sanctions under Section 92 of the Public Procurement Act, 2003 (Act 663) as amended, were advised for officers whose negligence led to this infraction.

Furthermore, the report noted that BOST paid GH¢1.049 million for goods and services, including a VAT component of GH¢146,799. The VAT invoices from suppliers/service providers came from the same booklet, raising concerns.

The Auditor General recommended that BOST management ensure suppliers/service providers provide evidence of VAT payment to the Ghana Revenue Authority. If they fail to do so, BOST should recover the GH¢146,799 from the suppliers and remit it to the GRA.

Source: Norvanreports