The Ghana Revenue Authority has sued BGC International DMCC Ghana Limited for allegedly evading tax in the amount of GH21, 948,165.45. (GRA).
Withholding tax, directors' Pay As You Earn (PAYE), income tax, and accumulated interest make up the company's tax burden from 2016 to 2018.
The Ghana Revenue Authority (GRA), which is in charge of assessing, collecting, and accounting for taxes and levies, has filed a lawsuit against the firm in the Accra High Court, with AkoliyaVinodkumarMaganbhai and AkoliyaVisarambhaiNaranbhai, the company's director and chairman, as defendants.
The prosecution, Rebecca Eduafo-Abraham, Assistant Revenue Officer, said before Justice Margaret Melborne, a Court of Appeal judge with extra responsibilities as a high court judge, that GRA conducted a tax audit on the firm from 2016 to 2018.
She said GRA employees discovered a total tax debt of GH21,948,165.45 against BGC International Ghana Limited, which included withholding tax, directors PAYE, corporate income tax, and accumulated interest.
According to the court, the corporation is involved in precious metal refinement and export and is a taxpayer registered with the Ghana Revenue Authority.
MsEduafo-Abraham stated that the corporation authorized the national security coordinator to pay the GRA the sum of GH1,070,415.79 for the company's unpaid corporate tax and PAYE in a letter dated February 19, 2020.
BCG International Ghana Limited had paid GHC64,000.00 so far, according to the prosecution, leaving an outstanding responsibility of GH21,884,165.45.
She went on to say that a garnishee order placed on the company's bankers yielded slightly over GH2,000.00.
Several requests were placed on the accused, according to MsEduafo-Abraham, to compel the corporation to settle the overdue tax debt.
The accused, on the other hand, had not kept their promises to the state.
The accused were then presented with criminal summonses to appear before the court to face the charge leveled against them, according to the prosecutor.
The defendants were each given GH one million Ghana cedis bail, with two sureties, one of which had to be justified.
They were ordered by the court to surrender their passports to the Registrar.
The case has been rescheduled until May 11th.
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