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NPA clears Globex Energy over tax evasion

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The National Petroleum Authority (NPA) has cleared Globex Energy Limited to do business in all petroleum downstream activities.

Earlier in a press release, the NPA suspended Globex Energy Limited together with other oil companies over tax evasion.

Read: GRA to stop tax evasion with new exemptions law

Globex Energy was among the five oil companies that were suspended by the National Petroleum Authority (NPA) for under-declaring or failing to declare returns on fuel they loaded at the Tema Tank Farm (TTF) in 2018.

They others were Union Oil Ghana Limited, Misyl Energy Company Limited, Excel Oil Company Limited, Unique Oil Company Limited and Life Petroleum Company Limited.

Agabet Limited was also suspended for indulging in underhand dealings with respect to declarations made to the Ghana Revenue Authority.

The NPA made the find after reviewing the returns of the companies for January and February this year.

However, a spokesperson for the company, by a letter dated 3 August, 2018, said the NPA cleared the company to resume business in the petroleum downstream activities.

Read: Union Oil, 7 others suspended for tax evasion

It would be recalled that earlier when the press release suspending Globex Company for tax evasion was published, the Ghana Chamber of Bulk Distributors (GCBOD), came to the defence of Globex Energy Limited that the suspension of that company was not for tax evasion but rather for under declaration of volumes of sales.

Globex Energy Limited wishes to assure its stakeholders that it will continue to abide by the rules and regulations of the energy sector and foster better working relations with all players in the energy sector.

Source: GNA


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