Ghana Manganese Company demands $20m VAT refund

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The Ghana Manganese Company (GMC) is demanding $20 million in VAT refund due it from the Ghana Revenue Authority (GRA) between December 2018 and June 2019.

This follows its sterling performance in honouring its tax obligations which contributed to the GRA Bronze Award conferred on the company for tax compliance in 2018.

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Chief Operating Officer of the company, Benjamin Atsu Quashue, revealed this on Adom FM’s morning show, Dwaso Nsem programme, Tuesday.

This is contrary to claims by the Ministry of Lands and Natural Resources that GMC owes the State more than $300 million in taxes.

The sector Minister, Kwaku Asoma Cheremeh, ordered a shutdown following allegations that it had shortchanged government to the tune of GH¢ 1.94 billion in taxes and royalties as well as price manipulation between 2010 and 2017.

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Mr Quashie denied the allegations and cited records at the GRA and the award for being tax complaint as evidence.

“In 2018, the corporation tax liability of the company was $31 million. This was settled before December 31, 2018 as required by law. In relation to royalties, the company paid an amount of $17 million in 2018,” the GMC Chief Operating Officer stressed.

He was convinced the Minister was misled to take such hasty decision which he claimed cost the company a lot of money.

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As an immediate measure, Mr Quashie revealed that, the company has set up a committee to investigate circumstances that led to the closure.

“The committee which I am part of has been given two weeks to finish its work,” he added.

Mr Quashie said the company had welcomed the government’s decision to allow it to resume operations.

Source: Ghana | Adomonline.com | Adwoa Gyasiwaa Agyeman