The National Petroleum Authority (NPA) has cleared Globex Energy Limited to do business in all petroleum downstream activities.
The NPA suspended Globex Energy Limited together with other oil companies over tax evasion.
A spokesperson for the company, by a letter dated 3 August, 2018, said the NPA cleared the company to resume business in the petroleum downstream activities.
It would be recalled that earlier when the press release suspending Globex Company for tax evasion was published, the Ghana Chamber of Bulk Distributors (GCBOD), came to the defence of Globex Energy Limited that the suspension of that company was not for tax evasion but rather for under declaration of volumes of sales.
As was released by the Corporate and Regulatory Affairs Department of the Ghana Chamber of Bulk Distributors, Globex Energy Limited was not suspended because of tax evasion adding that ‘it was inaccurate and unintendedly misleading for the NPA to state that it was suspended for tax evasion.
It said Bulk Oil Distributors (BDC’s) do not collect petroleum taxes in the petroleum tax administration process, indicating that “this function is the sole preserve of OMC’s. The taxes are to be paid by OMC’s after reconciliation with the GRA, subject to agreed payment terms”.
Globex Energy Limited assured its stakeholders that it will continue to abide by the rules and regulations of the energy sector and foster better working relations with all players in the energy sector.
Latest Stories
-
Barcelona hit by new flood as rescuers search Valencia basement car park
45 mins -
Labadi Beach Hotel pays over GH¢16m as dividend to SSNIT
58 mins -
Elon Musk can keep giving $1m to voters, judge rules
1 hour -
Election must not divide us, government will protect each citizen – Akufo Addo
1 hour -
Novel way to beat dengue: Deaf mosquitoes stop having sex
2 hours -
Trial begins over beheading of teacher who showed Prophet Muhammed cartoon
2 hours -
Quincy Jones: His brilliance explained in 10 songs
4 hours -
Nigeria and Britain hail partnership to boost economic ties, security
4 hours -
Chad threatens to withdraw from multinational security force
4 hours -
Cocoa farmers hoard beans in anticipation of price hike, reports Reuters
5 hours -
Boat capsizes off Comoros islands, 25 killed, UN agency says
5 hours -
How are votes counted in the US election?
5 hours -
Mozambique presidential runner-up escapes alleged assassination attempt
5 hours -
Nigerian children who collapsed in court released
5 hours -
Integrity lacking in Ghana’s business history, says Dr David Ofosu-Dorte
6 hours