Our members must fulfil tax obligations to remain in good standing –AOMC

The Association of Oil Marketing Companies says it expects its members to fulfil all their financial obligations to the government to remain in good standing.

Chief Executive Officer of the Association, Kwaku Agyeman Duah, stated that such developments were unhealthy for the sector.

“GRA has got a mandate to make sure that everybody pays tax. But some of our members not paying the tax is basically the situation we find ourselves in. And so, it has become like robbing Peter to pay Paul. If you have not achieved your full margin, it would be difficult to pay the taxes you’ll be looking at. You say once I can pay the margin let me go and eat into the taxes and the levies then eventually you default.”

He however stressed his association’s position on the nonpayment of taxes indicating that they would not countenance such posturing from members.

“What we have as an association is that in principle and we have decided to sanitize the industry, we are not going to tolerate whatsoever somebody who is not paying their taxes. Well, this is a statutory thing and we need to behave as a very good corporate citizen.”

“That is one of our objectives this year. We’re not going to countenance that. You want to be a very good member of the association in good standing,  then you must pay your dues, your taxes, your levies as well when they fall due. Failure to do that, you are out” Kwaku Agyeman Duah noted.

The Ghana Revenue Authority in May last year closed 7 Oil Marketing Companies for failing to pay their taxes.

Source: CitiBusinessNews