Businesses Tasked To Ensure Transparency And Truthfulness

Bankyim (WR), April 25, GNA - The Commissioner-General of the Ghana Revenue Authority, Mr. Kofi Nti, has called for businesses to ensure transparency and truthfulness in their dealings with revenue collection agencies.

'All we want is transparency, clarity and truthfulness in the business relationship', he said at the start of his two-day tour of some mining companies in the Western Region.

He was accompanied by the Chief Executive Officer of the Ghana Chamber of Mines, Mr. Suleman Koney.

This was to help acquaint himself with the operations of the companies and their tax compliance.

Mr. Nti underlined the need to entrench best tax administration practices and said that was critical to economic growth.

This was why they were determined to go the extra mile - 'walk to the tax payer' and help everybody to pay their taxes.

He reminded the companies that tax exemptions and other support services were not transferable.

He announced that items on the mining list would 'henceforth be subjected to annual review - we want to see industries stay in business for a long period'.

At the Africa Mining Services, Ms. Maureen Balibi-Boye, the Manager, complained about the frustrations and delays they had been experiencing at the ports and said these always came with additional cost.

The high cost of doing business was affecting their profit margin together with taxes paid and asked that these should be addressed.

At the Ghana Manganese Company, the General Manager, Mr. Joseph Ampong, said it had put in place interventions to strengthen its operations and returns.

They were looking at plant expansion, rail works to facilitate haulage and more exploration works to increase production levels.

He conceded that 2018 was going to be difficult, because of the numerous activities they would be carrying out to achieve the planned expansion and growth.

The expectation was that business would be picking up in 2019.

Mr. Nti praised the company for its tax compliance as shown in their audit report.

At Gold Fields Tarkwa Mine, the General Manager, Mr. Stephen Osei Bempah, said they were aiming at aggressive exploration to expand the lifespan of the mine to 2030.

They opted for contract mining to save cost and invest massively in that activity.

Mr. Koney spoke of ongoing high level discussions to transform the mining sector.

The Commissioner-General and his team also visited the Karl Tyre where rethreading and repairs are carried out on giant tyres the mining companies have been using.