NPA suspends eight oil companies for tax evasion

Eight oil companies have been suspended by the National Petroleum Authority (NPA) for breaches in tax compliance.   According an NPA statement dated July 24, the oil companies comprise Oil Marketing Companies (OMCs) and Bulk Distribution Companies (BDCs) “which have engaged in activities that led to loss of tax revenue to the Government of Ghana”. The statement lists the suspended companies in two categories with Union Oil Ghana Limited, Agapet Limited, Excel Oil Company Limited, Misyl Energy Company Limited and Globex Energy Company Limited put under a one-month suspension. Petro Afrique Company Limited, Life Petroleum Company Limited and Unique Company Limited have, however, been put under a three-month suspension category. However, suspensions in both categories are effective Tuesday, July 24. The NPA has directed that the eight suspended companies to “desist from engaging in the sale, supply, transportation, discharge and receipt of petroleum products for the duration of their suspension”. The public is also advised to desist from doing business with or report any infringement on the part of the listed companies to the NPA. Source: 3news.com|Ghana Follow @3Newsgh]]>