Activities of foreign companies undermining Ghana’s economy – RPIB

The Revenue Protection Information Bureau (RPIB), has expressed concerned about the fraudulent activities of some foreign companies, which is undermining the nation’s economy.

The RPIB, which is a centre for information gathering on revenue leakages and acts undermining the economy, says monitoring of these companies had revealed a number of their illegal activities which are detrimental to the health of the economy.

A statement issued in Accra on Wednesday by Mr Isaac Narh, on behalf of the Co-ordinating Director of the Bureau, said the corrupt practices, which are aided and abetted by some clearing agents and revenue collectors is costing the State billions of cedis.

It said some of the illegal activities perpetuated by the companies are non-payment of Value Added Tax (Domestic Tax Revenue), non-payment of income tax, illegal transfer of foreign exchange, illegal importation of goods and clearing.

Others are forging of import documents, operating of numerous undisclosed bank accounts and non-payment of Social Security contributions of employees and workers who worked for years without appointment letters.

The statement alleged that Meilum Ghana Limited is one of the companies whose illegal activities are doing more harm than good to the country.

The RPIB has therefore called for a presidential enquiry into the activities of the company to facilitate prosecution, which would serve as a deterrent to other corporate entities.

Source: GNA