GRA-SML deal: There is some added value from the value of SML both on volume of litres and the tax revenue – Prof Antwi
The Dean of the Graduate School of the University of Professional Studies, Accra (UPSA), Professor Samuel Antwi has said that the analysis and study on the deal between the Ghana Revenue Authority (GRA) and the Strategic Mobilisation Limited (SML) has proven that there is some added value from the value of SML both on the volume of litres and also the tax revenue.
This result, however, could potentially change if more refined data is obtained from GRA systems such as ICUMS which hold the current data for GRA, he said.
According to him, the results of his analysis show that on a crude basis when other factors that contribute to the consumption of petroleum liftings are taken care off, there is improved reported volumes to GRA by 1.32 billion litres and related revenue by GHS1.9 billion.
“This analysis uses information that are available to the public. This position could potentially change if data from ICUMS is analysed in a similar way. As this is not publicly available data, I could not extend the analysis to cover that data. It is expected that the work done by KPMG should consider all available data including ICUMS.
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“If this has not been considered by KPMG then, GRA must make this information available for further studies and analysis. It is, however, clear and evident from this analysis and study that SML’s contribution to tax revenue cannot be nil as determined by the CSOs and 4th Estate and it cannot also be 9billion litres and GHS12.9 billion as determined by SML.
“In conclusion, this analysis and study has proven that there is some added value from the value of SML both on the volume of litres and also the tax revenue. This result, however, could potentially change if more refined data is obtained from GRA systems such as ICUMS which hold the current data for GRA.”
