Following the commendation from by parliament select committee and the media revelation that revenue assurance company, Strategic Mobilization Limited (SML), a wholly-owned Ghanaian Company had increased revenue of GRA, two influential persons within the running government who are opposed to the owners of the company have intensified their moves to fight the company.
A relative of the President who even though not in government but wields a lot of influence and a minister who is seeking to partner Dr Bawumia are the those behind the plot
Persons within the corridors of the party have indicated that the two have boasted that over their dead body will they allow the company to stay despite the benefit the company is giving the country.
They believe despite their influence in government, they are not benefiting personally from the contract and as such, the investigation must only lead to a report which will force the hand of the president to abrogate the contract despite its benefits to the country’s revenue mobilization.
The two is believed to be pushing to influence the work of KPMG and have said irrespective of the outcome of investigations by International Audit Firm, KPMG,SML must not be allowed to operate.
Meanwhile, Petroleum Economist and auditor, Matthew Alorvi, har argued that that revenue assurance company, SML Ghana played a crucial role in ensuring that the right amount of taxes was paid by operators of Ghana’s downstream petroleum sector, insisting that contrary to reports that the company’s contract with the Ghana Revenue Authority (GRA) did nothing to improve revenue collection, SML helped improve revenue performance of GRA in the sector.
The experienced Petroleum Economist, who has hands-on experience in the sector, noted that after a thorough analysis of SML’s role in the downstream sector, it is obvious that criticism of the company’s contract with the GRA were borne out of ignorance or a lack of understanding of SML’s work.
“My investigation has shown that SML’s revenue audit and assurance control measures implemented in May 2020 in the petroleum downstream sector, has closed the gap between the NPA traded volumes and the GRA taxable volumes.
Before SML, why was the sector experiencing at least one OMC running away with collected tax revenue?
Genuine answers to these critical questions will lead to the realization of the crucial role that SML plays in revenue assurance and collection of taxes due the state,” he observed.
SML contract shoots GRA’s revenue in petroleum downstream to over GH¢12bn
The Ghana Revenue Authority (GRA) last month revealed positive outcomes for the country’s revenue from the contract between Strategic Mobilisation Ghana Limited (SML) and t
Since the signing of the revenue assurance contract in December 2020, there has been a noticeable increase in revenue.
According to the Ghana Revenue Authority, revenue has surged by GH¢12,981,376,688.00 since the contract was signed.
This significant rise in revenue suggests that the contract has been beneficial for the country’s financial interests.
