A tax court has granted a ¢1million bail each to Akoliya Vinodkumar Maganbhai and Akoliya Visarambhai Naranbhai, Director and Chairman respectively of BGC International DMCC Ghana Limited for evading tax.

The two accused persons have pleaded not guilty.

The bail term is accompanied by two sureties, one to be justified. They are to deposit their passport with the Registrar of the Court.

The Counsel for the accused persons earlier told the Court that they were opposed to the amount quoted in the charge sheet as being paid.

The Counsel said they would reconcile with the Prosecution on the figures.

The accused persons had been in the country for over 20 years and had established seven businesses during the period.

A Tax audit conducted by officers of the Ghana Revenue Authority (GRA) on BGC International DMCC Ghana Limited, a precious mineral refiner and exporter, for the period 2016 to 2018 established a total tax liability of ¢21,948,165.45.

The tax liability was made up of withholding tax, Directors PAYE, Corporate income tax and accrued interest.

Madam Rebecca Edufo-Abraham, an Assistant Revenue Officer told the Court that the Company in a letter dated February 19, 2020, authorized the national security coordinator to pay to the GRA the sum of ¢1,070,415.79 for the company’s outstanding corporate tax and PAYE.

She said the Company had so far paid an amount of ¢64,000.00 leaving an outstanding balance of ¢21,884,165.45.

A garnishee order served on the bankers of the Company yielded just over ¢2,000.00.

The Assistant Revenue Officer said several demands were made on the accused persons to get the Company to pay the outstanding tax.

However, the accused persons have failed to honour their obligations to the State.

“The accused persons were consequently served with the criminal summons to appear before the court to answer the charge preferred against them,” she said.