Numerous financial and procedural violations affecting Oil Marketing Companies (OMCs) and the Bulk Oil Storage and Transportation Company (BOST) have been discovered by the 2023 Auditor General’s Report.
44 OMCs owed BOST GH¢59.525 million in margin levies as of December 31, 2022.
The Auditor General advised BOST management to pursue legal action right away in order to retrieve this sum and give the audit team confirmation.
Along with the unpaid levies, the audit found inconsistencies in BOST’s procurement process.
Acquiring goods and services valued at GH¢886,771, management accepted Tax Clearance Certificates (TCCs) with identical serial numbers that were issued from various Taxpayer Service Centers on disparate dates.
The Public Procurement Authority and the Ghana Revenue Authority should be notified of any entities found to be at fault, and the Auditor General suggested conducting an investigation into this anomaly.
For the officers whose carelessness resulted in this violation, sanctions under Section 92 of the Public Procurement Act, 2003 (Act 663) as modified were suggested.
The report also stated that BOST spent GH¢1.049 million for products and services, which included GH¢146,799 for VAT.
There were questions because the VAT bills from the service providers and suppliers were from the same booklet.
The Ghana Revenue Authority should receive proof of VAT payment from suppliers and service providers, according to the Auditor General’s recommendation for BOST management.
In the event that they don’t, BOST needs to get the GH¢146,799 back from the vendors and give it to the GRA.
Source: newsthemegh.com