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Business News of Wednesday, 15 August 2007

Source: GNA

Kosmos Energy pays tax to government

Accra, Aug.15, GNA - Mr Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning, on Wednesday appealed to corporate Ghana not to always seek tax exemptions from government but rather pay their taxes for the smooth running of the economy.

He made the appeal when Management of Kosmos Energy Ghana, led by the Management of Ghana National Petroleum Corporation (GNPC) presented a cheque for 769,538.72 dollars as its tax for July to government in Accra.

Mr Baah-Wiredu said discovery of oil in commercial quantities in Ghana was welcome news and Ghanaians with special skills as well as chiefs and people within the exploration sites should get involved to create more benefits for themselves and revenue for government. Mr George Y. Owusu, Country Director of Kosmos Energy, assured Ghanaians that there was oil in commercial quantities and the company would make Ghana its West African hub.

He said although the company was yet to start full-scale exploration, about 25-30 Ghanaians had been employed in Takoradi. "The number would increase greatly should we begin on commercial basis which would also mean more employment for Ghanaians," he said. 15 Aug. 07

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