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8 OMCs suspended for tax evasion

The National Petroleum Authority (NPA) has suspended eight Oil Marketing Companies (OMCS) and Bulk Distribution Companies (BDCs) for their “involvement in activities that led to loss of tax revenue to the Government of Ghana”.

While Union Oil Ghana Limited, Agapet Limited, Excel Oil Company Limited, Misyl Energy Company Limited and Globex Energy Company Limited were suspended for one month, Petro Afrique, Life Petroleum and Unique Company Limited were handed three months suspension.

The sanctions are effective 28 July 2018.

The oil marketing companies have been directed to desist from engaging in the sale, supply, transportation, discharge and receipt of petroleum products for the duration of their suspension.

This was contained in a press release from the NPA which was dated 24 July, 2018.

Source : Ghana/ClassFMonline.com

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