The Ghana Revenue Authority (GRA) is set to employ all necessary controls to defray loss of revenue caused by MBG Limited and Holman Brothers Ghana Limited in the importation of vehicles and equipment owned by Mr Ibrahim Mahama.

The decision follows the failure of both corporate companies to fully honour the first two months instalment payment of their total outstanding debt of GH¢12,394,803.08 owed including interest and penalty on the said indebtedness.

A statement issued by the Communication and Public Affairs Department of the Authority to clarify the GRA’s role in the issue of the importation of the said items, explained that in December 2015, MBG limited had a tax liability of GH¢13,150,761.20 to GRA as duties payable on vehicles and equipment that had been imported by MBG Limited.

Holman Brothers Ghana Limited, in the same period, had a tax liability of GH¢3,788,873.84 payable to GRA as duties on vehicles and equipment that had been imported by Holman Brothers, Ghana Ltd.

Consequently, “to effect payment of duties and interest due on the said vehicles and equipment, MBG Ltd and Holman Brothers Ghana Ltd, each issued 23 separate cheques to cover re-scheduled duty payment to be drawn monthly over a 12 month period,” the statement said.

Meanwhile, the GRA, following the dishonouring of the first of 46 cheques, had meetings with the two entities to discuss payment terms.

“The GRA agreed to a rescheduling arrangement with the two entities by which MBG Ltd would pay GH¢800,000.00 monthly, while Holman Brothers Ghana Ltd would pay GH¢192,000.00 monthly up to December 2017 to cover the entire amount, which included 25 per cent interest rate and 25 per cent penalty,” it said.

Presently, both companies have settled GH¢4,544,594.47 and GH¢1,985,547.71 in favour of MBG Ltd and Holman Brothers Ghana Ltd respectively, leaving outstanding balances inclusive of interest and penalties of GH¢10,216,258.87 and GH¢2,178,544.61 totalling GH¢ 12,394,803.08.

They have, however, failed to fully honour the first two months instalment payment.

“For this breach of the terms of the rescheduling arrangement, the GRA has moved to serve notice to the two companies to pay all the total outstanding debt of GH¢12,394,803.08 that is owed including interest and penalty on the said indebtedness, within two weeks from Wednesday, 26th April 2017,” the statement said.

Afterward, the GRA would initiate all necessary controls including detention, seizure and finally public auction of the goods after the statutory period to defray the loss of revenue.