GRA closes Sol Cement because of a GH700 million tax debt

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The Ghana Revenue Authority (GRA) has shut down the activities of Sol Cement, a Chinese cement production company, due to a tax delinquency of more than GH700 million.

Tax evasion involves infractions of VAT, corporate income tax, and associated penalties, as discovered during a tax audit undertaken by the GRA’s tax enforcement division.

Sol Cement, located in the Tema Industrial Area, is said to have dodged tax payments for more than two years, and the GRA has imposed a ten-day deadline for the unpaid sum to be cleared.

According to documents obtained by Citi News, the GRA intends to use its legal authority under Section 57 of the Revenue Administration Act 2026 (Act 915) to impose a restraining order on the company’s assets in order to recover the outstanding GH709,686,828.53, plus additional costs and charges.

The GRA has also filed a restraining order to ban the company’s owners and workers from accessing its premises in response to the company’s tax failure.

“The amount is a summary of various types of taxes, interest, and penalties,” revealed Commissioner Joseph Annan, Accra Area Enforcement Manager of the Ghana Revenue Authority. They even owe a fine for making false assertions. We have sealed the place after exhausting all internal processes and serving all relevant notices. We will open it for them if they are able to raise the necessary monies.”

Meanwhile, Wan Heng Ghana Limited, the manufacturer of Sol Cement, has recognized the tax obligation and stated its intention to resolve it.

In a statement made on Monday, the firm apologized for the situation and assured stakeholders that it is committed to dealing with the issue properly and immediately. They also agreed to work with the appropriate tax authorities to construct a structured payback plan that is in line with their financial capacities in order to meet their tax obligations.

This development demonstrates Ghana’s desire to ensure that enterprises comply with their tax duties and contribute to the country’s income production.

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