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GRA encourages multinational companies to utilize internal systems for tax dispute resolution

2 years ago
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GRA encourages multinational companies to utilize internal systems for tax dispute resolution

Multinational companies contesting the imposition of “back tax” penalties in Ghana have been advised by the Ghana Revenue Authority (GRA) to use internal systems to address the tax dispute.

The companies, including MTN, Tullow, Goldfields, and Kosmos Energy, have indicated their intent to contest the claims made by the GRA.

According to the GRA, the companies have the right to object to the tax imposition and the authority will determine the case within 30 days.

If the companies are not satisfied with the outcome, they can appeal to the Independent Tax Appeals Board after making a 30 percent payment of the back tax imposed.

The GRA has welcomed the decisions of the multinational companies to contest the back tax penalties, stating that the law allows for appeals through multiple layers, including the GRA and the Independent Tax Appeals Board.

Companies appealing to the Independent Tax Appeals Board are required to make a 30 percent payment of the imposed taxes.

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This move by the GRA comes after a special auditing exercise in which multinational companies were asked to pay millions of dollars in back taxes.

MTN was asked to pay $773 million, Tullow was ordered to pay $300 million, while the fines imposed on Gold Fields and Kosmos Energy are unclear.

Tags: graGRA encourages multinational companies to utilize internal systems for tax dispute resolutionmultinational companiestax dispute resolution
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