3 MDs busted for evading diesel tax

The managing directors of three companies in Tema have been busted for allegedly importing diesel without authority and evading tax totalling GH¢470,000.

They are alleged to have succeeded in categorising the diesel as waste oil, for which reason the National Petroleum Authority (NPA) waived all taxes on the product.

They are Godson Akafo, the MD of Western Marine Company; Micheal Ologo, the MD of Timax Development Group and Justice Yaw Asare, the MD of Marine Tanker Wood Spirit.

The three are alleged to have imported the diesel into the country without authorisation and with the connivance of some officials of the Tema Oil Refinery (TOR) and the NPA.

Evading taxes The National Security, which effected the arrest, is working with the Criminal Investigations Department (CID) of the Ghana Police Service to identify and apprehend the TOR and NPA officials who are alleged to be involved in the fraudulent act.

According to the Director-General of the CID, Mr Bright Oduro, some operators in the oil sector had devised means of defrauding the state by evading the payment of taxes running into several thousands or millions of cedis.

He said in April 2017, Akafo approached Asare that he had secured a job to clean a marine vessel called the African Asphalt on the high seas and also to collect sludge or waste oil.

Source: Graphic Online