Venus Oil MD Jailed, Company Ordered to Pay GH₵10.69 Million in Unpaid Taxes

The Managing Director of Venus Oil Company has been jailed while the company is to pay GH₵10,694,051.86 in unpaid taxes and levies after the former was found guilty of tax offences.

In a case prosecuted by the Ghana Revenue Authority (GRA) under Section 80 of the Revenue Administration Act, 2016 (Act 915), the court ruled that the Managing Director deliberately failed to remit statutory taxes by their due dates, an act which constitutes a criminal offence under Ghana’s tax laws.

As part of the judgment, the Managing Director was sentenced to one month’s imprisonment.

In a statement, the GRA said the case highlights the strength of Ghana’s tax laws and the GRA’s commitment to enforcing them without exception.

“The Authority has made it clear that there is zero tolerance for tax evasion, and that all taxpayers, regardless of status or position, must comply with the law.”

“The recovery of the GH₵10.69 million means that these funds can now be used for national development instead of being lost through tax evasion. Ghanaians can be assured that tax revenues collected are protected and applied in accordance with the law for the benefit of the country.”

It added that the outcome sends a strong message to the public that failure to pay taxes on time has serious consequences while demonstrating the GRA’s transparency in enforcing the law and holding taxpayers accountable.

Story by Hajara Fuseini

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