Delay in payment of Taxes: We apologise for infraction – Mr. Kwaku Dua

Photo Credit: Sweet Melodies FM

The Chief Executive Officer (CEO) of the Financial Intelligence Centre (FIC), Mr. Kwaku Dua, has apologised for the delay in the payment of withholding taxes to the Ghana Revenue Authority (GRA).

Appearing before the Parliamentary Standing Committee on Public Accounts, Mr. Dua pointed out that the delay in tax payments will not happen at the Centre again, and that the Centre will pay its withholding taxes at the right time.
The Chairman for the Public Accounts Committee and Member of Parliament for Ketu North, Mr. James Klutse Avedzi, averred that high level of professionalism and compliance are expected from the FIC,  and that the delay in the payment of taxes does not speak well of the Centre.
Mr. Avedzi stated that the FIC’s mandate is to check money laundering and other related financial issues, and that any financial irregularity committed by the Centre will affect the level of professionalism of the institution.
Auditor- General’s report on the delay of tax payment
Paragraph 2008 of the 2016 Auditors-General (A-G) report on Public Boards, Corporations and Other Stationary cited FIC for delay in the payment of withholding taxes to GRA, amounting to GH¢52,855.70.
In violation of Section 87(1) of the Internal Revenue Act, 2000 (Act 592) as amended, the audit revealed that the Centre delayed in paying taxes withheld to the GRA.
Taxes withheld amounting to GH¢30,738.09 from January to July 2015 was paid on August 13, 2015 to GRA. Secondly, taxes withheld from August to December 2015 amounting to GH¢22,117.61 was remitted to GRA on December 30, 2015.
The report indicated that the Centre may be charged to pay penalty for failing to meet the deadline for filing withholding tax returns.
The report again revealed that contrary to Regulation 210(3) of the Financial Administration Regulations, it was observed that official receipts issued to acknowledge monies received by the Centre were not serially numbered.
The A-G stated that monies received and acknowledged, with the unnumbered self-generated receipts, could be misappropriated without being detected.
The A-G recommended the use of pre-serially numbered official receipts and duplicates given to the payees.
Source: GhanaJustice/S.Ayisi


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