Strategic Mobilisation Ghana Ltd (SML) has refuted claims that it received GH¢1,061,054,778.00 as compensation for its revenue mobilisation contract with the Ghana Revenue Authority (GRA).

Following President Akufo-Addo's directive on January 2 for an audit of the GRA-SML contract by KPMG, the audit report revealed that SML was paid a total of GH¢1,061,054,778.00 from 2018 to the present.

However, SML has denied these assertions, contending that KPMG's quoted figure does not consider the investments made and taxes paid during the reviewed period.

In a statement, the SML stated “KPMG quotes a figure as compensation to SML. It is interesting to note that this figure is quoted without reference to the investments made and the taxes paid by SML over the period within the consolidated contract.

“The compensation of GH¢1,061,054,778.00 stated by KPMG is inaccurate.”

“impression of the relationship between the compensation and the investment and other related costs.”

“SML finds that KPMG’s failure to state GRA taxes of 31.5% taken before payment, interest payments of 32% plus the investment repayment made by SML, and other taxes/duties over the period creates a very unbalanced impression of the relationship between the compensation and the investment and other related costs. This omission is highly misleading.”