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Hills Oil Marketing Company Sets Record Straight Per 2018 Auditor General’s Report

Kumi Kasa

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FOR IMMEDIATE RELEASE

A PRESS STATEMENT ON THE DEFAULT IN TAX PAYMENT PUBLISHED BY THE 2018 AUDITOR GENERAL’S REPORT; ISSUED BY HILLS OIL MARKETING COMPANY LIMITED

Hills Oil Marketing Company has observed with concern , media reports and misrepresentations made by sections of the public from the 2018 report of the Auditor General’s Department suggesting inter alia :

1. Hills Oil Marketing Company has defaulted in the payment of excise duties, taxes and levies amounting to GHS 64,024.80.

2. Hills Oil Marketing is liable to penalty/interest on delayed payment of excise duties amounting to GHS13,809.70 on petroleum products lifted;

Hills Oil Marketing finds these allegation s as unfortunate and undesirable and views them as factual inexactitude and therefore, wishes to clarify the issue .

3. The reported tax liability of GHS 64,024.80 is alien to Hills Oil ; considering that the records available to Hills Oil does not indicate any such liability of GHS 64,024.80 payable to the Ghana Revenue Authority as excise duties, taxes a nd or levies.

4. Hills oil wants to place on record that penalty/interest on delayed payment of excise duties amounting to GHS13,809.70 on petroleum products lifted has been paid. A simple post-audit examination would have confirmed this.

5. In order that we can resolve this matter expeditiously , Hills Oil Company has provided the Customs Division of the Ghana Rev enue Authority and the Auditor General’s Department with all supporting documents attesting to full payment of its excise duties, taxes and levies on petroleum products lifted at the Tema Oil Refinery.

6. Hills Oil has requested the Customs Division of the Ghana Revenue Authority to bring this matter to an expeditious conclusion to forestall any further misrepresentation.

We assure our customers, stakeholders and the public that, as a licensed oil marketing company, our compliance with the regulations of the petroleum industry and the laws of Ghana remains unrivalled as we cooperate fully with regulators .

Signed

General Manager

Hills Oil Marketing Company Limited

15 th August 2019

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