TERMINATION OF RE-SCHEDULED PAYMENTS FOR OIL
MARKETING COMPANIES (OMCS)
It has come to the attention of Ghana Revenue Authority (GRA) that several Oil Marketing Companies (OMCs) have routinely lifted petroleum from Tema Oil Refinery (TOR) without promptly paying for the related taxes. Regrettably, the resulting system of re-scheduling payments has been abused by several OMCs, resulting in steadily accumulating debts owed to Customs.
GRA has resolved that with effect from 14th November, 2019 payment must be made to Customs by OMCs before they will be allowed to lift petroleum from TOR. Allowing OMC debts to be re-scheduled for a period exceeding 12 months is against the Revenue Administration Act.
The practice of reneging on re-scheduled arrangements deprives GRA of revenue that is sorely needed for the infrastructure development of the Country. Against this backdrop, all OMCs that are indebted to Customs must make immediate arrangements to pay all their outstanding debts.
The above directive takes effect from 14th November, 2019.
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