GRA gives Electrochem 7 days to settle GH¢8.6m tax debt or face sanctions
Ghana Revenue Authority (GRA) has given Electrochem Ghana Limited, a subsidiary of the McDan Group of Companies, a seven-day ultimatum to settle an outstanding tax liability of GH¢8.6 million or face further enforcement action. This directive follows several unsuccessful engagements with the salt mining company over efforts to recover the outstanding amount. On Wednesday, July 8, officers from the Compliance Unit of the GRA visited the company's premises at Ada and sealed off its administration block as part of measures to compel payment.
Joseph Annan, the Accra Area Enforcement Manager of the GRA, stated that the Authority would be forced to restrict access to the entire mining facility if the company fails to honor its tax obligations within the seven days. He explained that the outstanding liability dates back to 2021, with several demand notices and reminders issued. Mr. Annan said, "We have decided to take this action because the initial debt was about GH¢8.8 million, including interest accumulated over the period. However, upon our arrival, we realised what goes on here, and after some presentation from the managers on site, we were given a cheque of GH¢200,000, which, although it is woefully inadequate, we had to accept." The GRA decided against completely shutting down operations to allow the company to continue working and raise funds. Mr. Annan added, "We therefore decided to seal the administration block and give them the opportunity to work in order to raise the remaining balance within the next seven days."
Quick Summary
Electrochem Ghana Limited, a subsidiary of the McDan Group, faces a significant tax liability with the Ghana Revenue Authority. The situation
Summary - read the full story for complete context.
Image: Adom Online
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from Adom Online
Related Stories
More from Business & Economy
National clean-up exercise: BoG Governor urges traders to keep cedi notes clean
Discover why the Bank of Ghana's top officials are linking currency cleanliness to national well-being and what this means for traders.
18h ago•2 min read
Nkoko Nkitinkiti and the shortest agricultural value chain…
A government initiative to empower citizens with chickens has taken an unusual turn, raising questions about the program's implementation and
5h ago•4 min read
Traders advised to bank their money for safety as Asokore Mampong Community Bank opens at Adum
Discover why traditional leaders and financial experts are urging Ghanaians to move their cash from homes to banks.
8h ago•2 min read
DBG launches women's lending programme to boost female-led businesses
DBG's new programme targets a crucial economic segment, but what specific challenges does it aim to overcome for women-led businesses?
12h ago•3 min read
