Ten state institutions in Ghana, including the Ghana Airports Company Limited (GACL) and the Electricity Company of Ghana (ECG), have accumulated unpaid taxes totaling over GH¢1 billion, according to the Ghana Revenue Authority (GRA).
This issue was brought to light during a meeting of GRA officials with the Public Accounts Committee on Monday, July 29. While some of the institutions have expressed their willingness to settle their debts, concerns have been raised about the financial viability of others such as the Tema Oil Refinery (TOR).
A representative from the GRA mentioned that some state agencies are facing cash flow challenges, which may be hindering their ability to meet their tax obligations. “GACL and Graphic Corporation are currently experiencing cash flow challenges.
They have informed us that they require a moratorium to improve their cash flow before settling their debts,” the representative stated.
In light of the situation, the Minister of State at the Finance Ministry, Abena Osei Asare, suggested that for companies that are unlikely to pay their taxes, the option of writing off the debts should be considered.
She highlighted past instances where debts were written off after all avenues to collect the funds had been exhausted.
