Management of BGC International DMCC Company Limited says it has always conducted its business within the ambit of the laws of Ghana.

The Company, through its Solicitors, said it had consistently been guided by statute in its operations and reporting to the Ghana Revenue Authority to Date. “We are happy to state that our Client is up-to-date with its tax obligations.” – The statement said

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

The tax liability comprises outstanding 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 the GRA the sum of GH₵1,070,415.79 for the Company’s outstanding corporate tax and PAYE. A statement that the BGC International DMCC Company Limited has denied.

She also stated that the Company had so far paid an amount of GH₵64,000, leaving an outstanding balance of GH₵21,884,165.45. In addition, a garnishee order served on the Company’s bankers yielded just over GH₵2,000.00.

However, the Chamber of Bullion Traders Ghana (CBTG), the Association to which BGC International DMCC Company Limited is a member, is seeking legal redress in court regarding the withholding of tax payments for the then Mineral exporters

The lawyers intimate that it was the Association’s view that the position of GRA does not conform to the then operational framework. The Solicitors stated that its client was working with the GRA to swiftly bring finality to the current disagreement.

The solicitors stated, “Our candid opinion is that there was a clear misrepresentation of facts in news bulletins as inaccuracies were captured in various publications.”