+
The Chamber of Bulk Oil Distributors (CBOD) has revealed that the government lost GH₵1.9billion to tax evasion in 2019, Mr Senyo Hosi, the CEO of CBOD has disclosed.
The Chamber blames the losses on a compromised Petroleum Product Marking Scheme (PPMS).
According to myjoyonlinecom Mr Hosi who made the revelation at the virtual launch of the 2019 Ghana Petroleum Industry Report in Accra, said the PPMS which was established in 2012 by the National Petroleum Authority (NPA) to respond to the growing occurrences of petroleum smuggling, dumping of untaxed products and adulteration of petroleum products was possibly compromised at the depots.
He noted that perpetrators of these illegal activities who often distribute their products through the traditional channels like retail outlets and bulk consumer points led to major losses in government revenue and compromised the quality of products, further leading to damage to vehicle engines and breaches of environmental and health standar
GHS 1 9 billion lost to petroleum tax evasion in 2019 ghanaiantimes.com.gh - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ghanaiantimes.com.gh Daily Mail and Mail on Sunday newspapers.
The 2019 Ghana Petroleum Industry Report has revealed that the various units of the Ghana Revenue Authority GRA coordinate their activities or share information on a routine basis. The GRA has integrated the four revenue institutions namely the Customs, Excise and Preventive Service (CEPS), the Internal Revenue Service (IRS), the Value Added Tax Service (VATS) and the Revenue Agencies Governing Board (RAGB) The 2019 Ghana Petroleum Industry Report explained that the main reaso