693 Coys Missing from GRA Tax Default List -MFTA

Joseph Bediako, Convener for the Movement for Truth and Accountability (MFTA) has raised alarm over 693 companies allegedly missing from the Ghana Revenue Authority’s (GRA) list of tax-defaulting entities.

The discrepancy was discovered following a Right to Information (RTI) request filed by the Movement.

The GRA, in a media release dated April 8, 2021 had disclosed that it uncovered 10,000 irreconcilable documents from over 2,000 companies, involving fund transfers amounting to approximately US$1.8 billion.

However, according to MFTA’s findings, the number of companies suspected of engaging in tax evasion and money laundering totalled around 1,200, which contradicts the GRA’s reported figure.

To clarify the issue, the Movement filed a request with the Right to Information Commission (RTIC) in January 2025, seeking a detailed breakdown and actions taken by the Authority to recover the lost revenue for the state.

In response, the GRA, in a letter dated February 28, 2025, provided data on 1,307 importers but failed to account for the remaining 693 companies, raising concerns about transparency and accountability.

The GRA’s audit revealed that 548 importers were assessed, with a total collection of GH¢355,858,269.71.

Additionally, penalties amounted to GH¢656,206,006.21 – bringing the total liability to GH¢1,012,964,266.91.

The Authority also indicated that 537 importers had been referred to the Economic and Organized Crime Office (EOCO) for further investigation, while 222 importers were deemed not worth auditing due to their financial activities being below the US$100,000 threshold.

Despite assurances from the GRA that it would take concrete steps to address the gaps in revenue collection through post-clearance audits and sanctions, concerns remain over the missing companies.

The Authority has indicated that it will collaborate with the Ministry of Trade and other relevant institutions to strengthen tax compliance and enforcement measures.

MFTA is calling for further scrutiny and immediate action to ensure the state recovers all lost revenue and closes loopholes that enable tax evasion and financial misconduct.

The Movement has vowed to continue its advocacy for greater transparency and accountability in the country’s revenue collection processes.

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