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.