Ghana Publishing Company uncovers GH¢22m legacy VAT debt from 2021 to 2024
The Ghana Publishing Company Limited (GPCL) has uncovered a legacy Value Added Tax (VAT) liability of approximately GH¢22 million covering the period between 2021 and 2024.
Managing Director Nana Kwasi Boatey disclosed that the company became aware of the outstanding obligation after receiving formal communication from the Ghana Revenue Authority (GRA).
The liability relates to VAT accrued during the four years but not remitted to the Authority.
Addressing the Government Accountability Series at Jubilee House on Monday, November 2, Mr Boatey said management had begun engagements with the GRA to establish an arrangement for settling the outstanding amount without undermining the company's financial recovery.
He said the discussions had resulted in a proposed payment plan to enable GPCL to gradually offset the liability, subject to the necessary agreement with the Authority.
"Management remains committed to resolving this legacy obligation while safeguarding the company's financial stability and operational sustainability," he said.
He added that the discovery highlighted the need to strengthen the company's tax compliance framework, financial controls and statutory reporting processes to prevent similar occurrences in the future.
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