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General News of Thursday, 27 April 2017


Ibrahim Mahama’s companies to pay GHC12.4m in two weeks

MBG Ltd. and Holman Brothers Ghana Ltd., both owned by Mr Ibrahim Mahama, brother of ex-president John Mahama, are to pay the Ghana Revenue Authority (GRA) an outstanding debt of GH¢12,394,803.08 in the next two weeks.

According to a statement issued by the GRA, as at December 2015, MBG Ltd. had a tax liability of GH¢13,150,761.20 to GRA as duties payable on vehicles and equipment that had been imported by MBG Ltd; while Holman Brothers Ghana Ltd. had a tax liability of GH¢3,788,873.84 payable to GRA as duties on vehicles and equipment that had been imported by Holman Brothers, Ghana Ltd.

“To effect payment of duties and interest due on the said vehicles and equipment, MBG Ltd and Holman Brothers Ghana Ltd. each issued 23 separate cheques to cover re-scheduled duty payment to be drawn monthly over a 12 month period,” the statement issued by the Communication and Public Affairs Department of the GRA said.

Following the dishonouring of the first of 46 cheques, the GRA had meetings with the two entities to discuss payment terms.

The statement explained that the GRA agreed to a rescheduling arrangement with the two entities by which MBG Ltd. will pay GH¢800,000 monthly, while Holman Brothers Ghana Ltd. will pay GH¢192,000 monthly up to December 2017 to cover the entire amount which includes 25 percent interest rate and 25 percent penalty.”

“As at now the two companies have settled GH¢4,544,594.47 and GH¢1,985,547.71 in favour of MBG Ltd. and Holman Brothers (Gh) Ltd respectively, leaving outstanding balances inclusive of interest and penalties of GH¢10,216,258.87 and GH¢2,178,544.61 totalling GH¢12,394,803.08. They have, however, not fully honoured the first two months instalment payment,” the statement noted.

For this breach of the terms of the rescheduling arrangement, the GRA has moved to serve notice to the two companies to pay all the total outstanding debt of GH¢12,394,803.08 that is owed including interest and penalty on the said indebtedness, within 2 weeks from Wednesday, 26th April 2017.

Thereafter, the GRA will initiate all necessary controls including detention, seizure and finally public auction of the goods after the statutory period to defray the loss of revenue.