Reports have indicated that ten state institutions, such as the Electricity Company of Ghana (ECG) and the Ghana Airports Company Limited (GACL), owe the Ghana Revenue Authority (GRA) over GH¢1 billion in unpaid taxes.
Government revenue officials stated that some of these viable institutions have pledged to settle their tax debts.
This information emerged when GRA officials testified before the Public Accounts Committee on Monday, July 29, 2024.
“GACL and Graphic Corporation currently have cash flow challenges. They have informed us that we need to grant them a moratorium to allow them to repay us. Therefore, they are willing to settle their dues once their cash flow situation improves,” the GRA official is quoted as saying by citinewsroom.com.
During the meeting, Minister of State at the Finance Ministry, Abena Osei-Asare, stated, “Mr. Chairman, we have done this before. We presented it to parliament, went through a process, and some were written off by parliament. If it becomes necessary after exhausting all efforts to collect these funds, we will follow that process and seek permission from parliament.”
The Public Accounts Committee voiced concerns about non-operational state entities such as the Tema Oil Refinery (TOR) and urged measures to restore their viability and prevent additional financial losses.