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Business News of Tuesday, 26 February 2013

Source: GNA

Takoradi VAT Service seals off six companies

Domestic Tax Division of the Ghana Revenue Authority on Monday closed down Newstar Subseci and Dupaul Wood Company for owing Value Added Tax (VAT) amounting to GHC 761,922 and GHC41, 282 respectively to the state.

Some industrial, commercial, hospitality and service providers had failed to pay VAT returns collected by such businesses over a two-year period in the Western Region.

They included Dupaul, Seaweld, Mea Catering, Newstar Subseci, Frank Motors, and Isaac Electricals, which owe VAT service more than GHC1. 2 million.

Mr. Abieku Cudjoe, acting Assistant Commissioner of the Medium Tax Payer Office, told the Ghana News Agency in Takoradi that Seaweld Engineering Company made part payment of GHC 17, 000 and promised to pay the rest by the end of March.

He said revenue agencies were now alive to their duty, adding that “registered businesses have no duty keeping monies collected on the companies’ behalf”.

Mr Cudjoe appealed to businesses and revenue authorities to harness resources for national development, and advised consumers to always insist on VAT receipt.

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