By 
The Ghana Revenue Authority (GRA) has taken action against the Chinese cement manufacturing company, Sol Cement, due to significant tax defaults amounting to over ¢700 million.
Sol Cement, located in the Tema Industrial Area, has faced a shutdown by the Tax Enforcement Team of the GRA following a comprehensive tax audit.
The company was found in violation of Value Added Tax (VAT) regulations, engaging in Corporate Income Tax evasion, and accumulating penalties, among other infractions, all of which have remained unpaid for a period exceeding two years.
In addition to the closure, the GRA has imposed a restraining order to prevent the company’s owners and employees from accessing the premises.
Joseph Annan, the leader of the enforcement operations, stated during a press briefing that the facility would remain closed until further notice, at which point the necessary legal procedures would be initiated.
Annan also revealed that despite the GRA’s efforts to recover the outstanding taxes, the company’s management has consistently refused to settle the outstanding tax liability.
Comments