The Ghana Revenue Authority’s (GRA) adoption of the new Energy Sector Shortfall and Debt Repayment Levy (ESSDRL), which is set to take effect on Monday, June 9, 2025, has been strongly criticized by the Chamber of Oil Marketing Companies (COMAC).
The Oil Marketing company called the action forceful and ill-timed, claiming it shows a lack of respect for due process and industry consultation, in a statement signed by its CEO and sent to the GRA Commissioner-General.
As a result, the statement stressed, “We therefore wish to state unequivocally: COMAC and its members cannot and will not begin implementation of this levy from Monday, 9th June.”
According to the Oil Marketers, oil marketing companies had less than 24 hours to comply with a significant fiscal shift when GRA sent out a letter on Friday, June 6, a public holiday, and it arrived on Sunday morning.
COMAC compared the GRA’s approach to a “Rambo-style directive” and an “institutional ambush.”
Despite meeting with the Minister for Energy and Green Transition on June 5 and submitting three mitigation measures, COMAC CEO and Industry Coordinator Dr. Riverson Oppong disclosed in the statement that the rollout plan utterly disregarded industry concerns.
The group also voiced concerns about the overall tax load on petroleum products, pointing out that eight different taxes and levies, or 22% of the ex-pump price, are currently imposed on the downstream sector.
They contend that raising this to 26% under the new ESSDRL will jeopardize company viability and drive up consumer expenses.
COMAC cautioned that cash-and-carry marketers would also experience operational disruptions due to the sudden adoption, as they would not have time to prepare for the stock levy to be lifted the following day.
The chamber has suggested June 16, 2025, as a more practical and cooperative implementation date and is calling for a minimum two-week transition time.
COMAC urged the GRA to reevaluate its timeframe and take a more cooperative stance, saying, “We are industry stakeholders, not bystanders.”
Source: newsthemegh.com