Kasapreko Company Limited (KCL), a leading local beverage manufacturing company, has been named Best Indigenous Tax Compliance Company for 2018 by the Ghana Revenue Authority (GRA).
The award is in recognition of KCL's commitment to file its tax returns and compliance with tax laws which has contributed to national development.
Presenting the awards to KCL on behalf of the Commissioner General of the GRA, Kofi Nti, the Deputy Commissioner at the Large Taxpayer Office of the GRA, Edwin Gyambrah, touted the commitment of the only local beverage manufacturing company with ISO Certification in Ghana.
He disclosed that the KCL paid a total tax of GHS85.4 million in 2018 representing an increment of 8.5 per cent in 2017.
The Deputy Commissioner said the award is to ensure Kasapreko Company Limited becomes a role model for other indigenous companies.
"We've seen that your compliance rate in terms of your date of filing, regular payment of your cooperate tax, employee taxes and your excise duties have been very good and as a result, the GRA appreciates this and wants to use you as a model to other local businesses that we don't just collect taxes but we also appreciate things that are done by businesses," said Mr Gyambrah.
The MD of KCL, Richard Adjei, expressed gratitude to the GRA for recognising the efforts of his outfit to the revenue mobilisation drive.
He said, one of the key objectives of the KCL over the past years, has been to position itself as a company that other businesses look up to in Ghana in terms of the best brand in marketing and sales or for Corporate Social Responsibilities, but also for paying the required taxes.
"We're very glad that the GRA has recognised our hard work…We hope that this will be an encouragement to other local companies to follow," Mr Adjei said.
He urged the GRA to continue to enforce its laws to enable other companies that are not tax-compliant to follow the law in order to create a competitive landscape.
Mr Adjei further called on the government to also provide tax reliefs to KCL in appreciation of its tax-compliant efforts.
He said this will enable the company to embark on other job creation ventures that will bring in more taxes.
He said the KCL is building a new factory in Tanoso in the Ashanti Region and has applied to join the government's One-district, One-factory which is awaiting approval.
He, therefore, called on the government to offer some support in the form of reduced tax rates to enable the company to expand.
"The support we get will obviously mean that more taxes we are paid. We hope that as we've been recognised, the government will also put in place policies to support not only us but the local industry in general," he appealed.
A citation presented to the company reads:
"You are a certified Ghanaian indigenous manufacturer and producer of alcoholic and non-alcoholic drinks established in 1989. Over the years you have contributed immensely to national development through the payment of various tax types. Your contribution to revenue in 2018 was impressive. You have shown growth across all tax types over the years. You increased your 2018 tax payment by 8.5% over that of 2017. You have also shown tremendous improvement in the filing of tax returns. For this admirable consistency in improvement in revenue growth, the Ghana Revenue Authority presents to you, Kasapreko Company LTD the Most Indigenous Company compliant with tax laws for the Large Taxpayer Office."