The Minority in Parliament has accused the Ghana Cocoa Board (COCOBOD) of acting illegally in breach of revenue laws by deciding to invest export duty revenue from cocoa towards the building and construction of cocoa roads.
This came to light on Wednesday as parliament approved COCOBOD's $1.3 billion syndicated loan with objections raised by the minority.
Minority Member of Parliament on Parliament's Finance Committee Benjamin Kpodo says COCOBOD is running away from parliamentary oversight.
But Chairman of parliament's finance committee Dr. Mark Assibey Yeboah says COCOBOD is only being transparent.
According to him, it is the Ghana Revenue Authority's mandate to determine the imposition of export duties of the sale of cocoa outside the country. He was, therefore, questioning the legal basis of COCOBOD's decision to determine its own duties payable to government.
"We do not know where all of a sudden COCOBOD is accounting for export duty which is as applied towards Bui dam and construction of cocoa roads."
The MP suspects that COCOBOD intends to "take away revenue that is due the country under total revenue from the national budget so that it escapes the eyes of Parliament, so that they can use it the way they want."
But Chairman of Parliament's Finance Committee Dr. Mark Assibey Yeboah says COCOBOD is only being transparent.
"COCOBOD is being transparent by saying that the export duties that would have been waived by the Ministry of Finance as zero in the budget is going to be used for cocoa roads and the Bui dam commitment," he said.
Latest Stories
-
Government suspends implementation of price Stabilisation and Recovery levy on petroleum products
20 mins -
Takoradi traders lament over low sales ahead of Easter
2 hours -
Michael Ampadu: One Student, One Tablet initiative will shape the future of education and innovation
2 hours -
I will partner you for development – Alan tells TUC
2 hours -
Malnutrition, anemia remain concern to UNICEF
2 hours -
Kasoa shrinking penis: Court remands Electrician over false alarm
3 hours -
‘I look forward to working closely with President-elect Faye to enhance Ghanaian-Senegalese relations’ – Akufo-Addo
4 hours -
Girl, 8, only survivor as 45 killed in bus crash in South Africa
4 hours -
Biden to host star-studded NYC fundraiser with Obama and Clinton
4 hours -
GDNR, AAU and others launch Universal Acceptance for local languages in internet domain names
5 hours -
Ogum and Kotoko’s March malaise
6 hours -
BushGang Zee releases new afro dancehall anthem “Accra Stay By Plan”
7 hours -
2 repair vessels dispatched for undersea cable repairs – says NCA’s latest update
7 hours -
Multimedia Group Limited’s Clinton Yeboah shortlisted for 2 International Sports Press Association Awards
7 hours -
Supreme Court upholds High Court verdict on fraudulent sale of property by Senior Police Officer
7 hours