Management of BGC International DMCC Company Limited says it has always conducted its business within the ambit of the laws of Ghana.
The Company, through its solicitors, said it had consistently been guided by statute in its operations and reporting to the Ghana Revenue Authority to date.
“We are happy to state that our client is up-to-date with its tax obligations,” it said.
According to the Ghana Revenue Authority (GRA), a tax audit conducted by officers of the Authority on BGC International DMCC Ghana Limited, a precious mineral refiner and exporter, for the period 2016 to 2018 established a total tax liability of ¢21,948,165.45.
The tax liability was made up of withholding tax, Directors PAYE, Corporate income tax and accrued interest.
Madam Rebecca Edufo-Abraham, an Assistant Revenue Officer told the court that the Company in a letter dated February 19, 2020, authorized the national security coordinator to pay to the GRA the sum of GH₵1,070,415.79 for the company’s outstanding corporate tax and PAYE.
She said the Company had so far paid an amount of ¢64,000 leaving an outstanding balance of ¢21,884,165.45. A garnishee order served on the bankers of the Company yielded just over ¢2,000.
However, the Chamber of Bullion Traders Ghana (CBTG), the Association to which the Client was a member, was seeking legal redress in court regarding withholding tax payments for Mineral exporters.
It said it was the Association’s view that the position of GRA does not conform to the then operational framework.
The Solicitors said their client was working with the GRA through its Association to remedy the anomaly swiftly.
The Directors of the Company said it had always had and would always administer their roles and act as required by Standards.
They said the Company had created a good Reputation in the mineral exporting business and would maintain the same always.
The Solicitors assured stakeholders, partners, and hard-working employees of their Clclient’s commitment to working with stakeholders to bring finality to the current issues.
They said some media publications referring to the headlined: “Re: Alleged GH¢21.8M Tax Evasion, BGC/DMCC Directors Changed”, denigrates the reputation of the Company as a body corporate and its Directors.
The Solicitors said, “Our candid opinion is that there was a clear misrepresentation of facts in news bulletins as inaccuracies were captured in the various publications.”