Petrosol congratulated for tax compliance; pays GHC476 million in axes
6th October 2022
Petrosol Ghana Ltd, one of the leading privately-owned indigenous Oil Marketing Companies (OMCs) in the Republic of Ghana, has been congratulated by the Commissioner-General of the Ghana Revenue Authority (GRA) for its tax compliance.
In a letter signed by Dr. Ammishaddai Owusu-Amoah, the Commissioner-General of the GRA and addressed to the Managing Director of Petrosol, he indicated that the Revenue Assurance, Compliance and Enforcement (RACE) committee of the Ministry of Finance, in collaboration with the Ghana Revenue Authority (GRA), the National Petroleum Authority (NPA) and the Association of Oil Marketing Companies (AOMC), conducted a reconciliation exercise to confirm petroleum taxes paid by Oil Marketing Companies (OMCs) over the period, January 2015 to July 2020.
After the exercise, Dr. Owusu-Ansah indicated in his letter that the GRA could certify that Petrosol is not indebted to the GRA in respect of petroleum taxes and levies as it has dutifully paid all the taxes and levies amounting to about GHS476 million.
The Commissioner-General, therefore, expressed his satisfaction by urging PETROSOL “to continue to play your roles as corporate citizens. Accept our congratulations on your compliance.”
The Managing Director of Petrosol, Michael Bozumbil expressed his delight about the news, indicating that it would serve as a morale booster for him and his team to continue on the path of ethical practices.
He said notwithstanding the challenges in the industry and the economy as a whole, he and his team have resolved to continue to do what is right to contribute to government revenue and economic development.
He, therefore, expressed his hope that the state and its agencies would also support Petrosol to grow and do more for the state.
Petrosol is a triple-ISO-certified OMC that has won several awards for its commitment to industry best practices and ethical conduct. It operates several fuel stations across the country and also supplies bulk consumers of petroleum products.