Government to investigate bauxite company penalty evasion
| Updated Aug 02, 2018 at 6:59am
Minister of Lands and Natural Resources John Peter Amewu says government is going to investigate the failure of Ghana Bauxite Company to pay penalty of 90 million dollar for axle load overload and for other tax invasion by Company and the appropriate sanctions apply.
He said government is going to get tough with multinational companies that tries to invade tax and therefore declaring loses to government. Speaking at Awaso in the Western Region Mr Amewu said government will not hesitate to revoke the lincese of any company that flout on Ghana's mining laws.
Mr. Amewu who was unhappy with the company for flouting on the country's mining laws called on the management to arrange an emergency meeting to address all the lapses in their books within two weeks.
He said the allegations of the tax invasion by Ghana Bauxite may be due to their declaration of loses.
He said the Chinese managers sell bauxite to its mother company in China at a price lower than what prevails on the international market which contributes to the losses.
Mr. Amewu said Ghana has been short changed for long and said government would advise itself after studying the company's 2017 financial statement.
However, the General Manager of Ghana Bauxite Company JF Fang denied the company has failed to pay penalty for axleload overloading.
GBC's Felix Cofie filed this report