Director, Chairperson of company granted bail over GH¢21M tax evasion
A tax audit conducted by officers of the GRA on BGC International DMCC Ghana Limited showed a tax liability of GH₵21,948,165.45. for the period 2016 to 2018.
The Tax Court has granted bail to Akoliya Vinodkumar Maganbhai and Akoliya Visarambhai Naranbhai, Director and Chairperson respectively of precious mineral refiner and exporter, BGC International DMCC Ghana Limited for evading tax of more than GH¢21 million.
According to an Assistant Revenue Officer of the Ghana Revenue Authority (GRA), Rebecca Edufo-Abraham, a tax audit conducted by officers of the GRA on BGC International DMCC Ghana Limited showed a tax liability of GH₵21,948,165.45. for the period 2016 to 2018.
This amount particularly relates to withholding tax, directors PAYE, corporate income tax, and accrued interest.
The GRA Revenue Officer also told the national security coordinator was served with a letter dated February 19, 2020, to pay to the GRA a sum of GH₵1,070,415.79 for the company’s outstanding corporate tax and PAYE
She explained to the court that GH¢64,000.00 was paid, and a garnishee order served on the bankers of the company recovered GH¢2,000.00, leaving an outstanding balance of GH¢21,884,165.45.
She added that several demands were made to have the company pay the outstanding tax, however, they failed to honour their obligations to the State.
The two accused persons however pleaded not guilty and were granted bail of Gh¢ 1 million with two sureties.
The court further adjourned the case to May 11, 2022.
