The Deputy Chief Executive Officer for the Ghana National Petroleum Corporation Joseph Dadzie has told the Public Account Committee that out of the 35 Companies who are exploring oils in Ghana only 4 companies pay corporate tax into the petroleum withholding fund.
He indicated that the inability of the 31 companies was because they have not finished exploring hence the reason why they have not paid the corporate tax.
Mr. Dadzie made this known when the representatives of the GNPC appeared before the Public Account Committee on some regularities captured in the 2020 Auditor-General Report.
He said the four who pay the corporate tax are the ones who are producing crude oil, sell them and make income.
But the 31 others have not found any crude oil, they are either at the development stage or exploitation stage. They don’t have anything to sell, generate funds, and pay the corporate tax.
He explained that if the Auditor-General had demanded further information, they would have been told but they only focused on the four paying the corporate tax.
By: Rainbowradioonline.com/Ghana
