Following The Crusading Guide’s publication on the eight-year tax evasion involving Caridem Development Company Limited (Vol.4 No.88: November 7-13, 2002), the Internal Revenue Service (IRS) has moved against the company.

The Service, Ghana’s statutory body responsible for revenue collection, has stated in a rejoinder that its “findings” have been sent to the National Tax Audit Bureau (NTAB) for exhaustive audit of the company.” It stated further, “In the meantime, the Compliance Unit of the IRS is pursuing the Caridem case, to establish culpability and compel the company to file its tax returns as required by law.” The IRS maintained that it conducted its own investigations into Caridem some time last year.

“The findings were subsequently forwarded to the appropriate authorities for further action. We therefore safely postulate that the story carried in your paper was based on IRS investigations and findings”, it submitted. The Service pointed out that currently, the company is not in operation, adding that the activities of Caridem were being monitored by its (IRS) office at Nsawam and that it (CARIDEM) would be assessed to pay tax “anytime production begins”. Further investigations by The Crusading Guide have however, revealed that the company stopped operating not long ago.

Besides that, the Cannery at Nsawam – which was bought over under a circumstance that smacks of fraud – is not the only business concern of Caridem. In a reaction to a query by the Auditor-General’s Department, the company stated. “We wish to confirm that Caridem also bought GNTC at La, Dansoman and Kumasi; Takoradi Bakeries through competitive bidding and not by any arrangement”.