The Ghana Extractive Industries Transparency Initiative (GHEITI), has said discrepancies between payments made by mining firms in the country and receipts of government for the period between 2004 and 2018, amounted to Ghs 700,624,827.00.
The discrepancies according to GHEITI in its newly launched report, was discovered in during a reconciliation of mining firms’ payments and government receipts for the aforementioned period as part of measures of providing revenue assurance to government.
“As part of providing revenue assurance, reconciliation of company payments and government receipts were undertaken. The Independent Administrator has reconciled and reported discrepancy of payments and receipts since 2004. A total of Ghs 700,624,827 in absolute terms was involved in the discrepancy,” said GHEITI in its report.
Out of the total Ghs 700,624,827 discovered, GHEITI in the report noted that some Ghs 630,466,599 were resolved between the government and the mining firms.
“While this cannot be quantified in terms of numerical contribution to revenues, the resolved amounts have contributed in many ways to revenue assurance. With Ghs 700.6 million, involved in discrepancies and Ghs 630.4 million resolved, revenue assurance is therefore evident. Especially, considering that transparency in payments and receipts forms the core tenet of the EITI and any such positive outturn is therefore worth noting,” stated GHEITI
According to GHEITI, discrepancies in company payments and government receipts have often resulted from exchange rate differentials, which invariably results in overpayments or underpayments, the late acknowledgement or confirmation of receipts by government, amongst others.
please kindly help me with a copy of the report.
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