The Chamber of Oil Marketing Companies (COMAC) has raised concerns over what it describes as ongoing regulatory challenges with the Ghana Revenue Authority (GRA), warning that the issues pose a threat to operational stability and fairness within the petroleum downstream sector.
In a press release signed by the industry regulator Dr. Riverson Oppong, the Chamber said that despite several engagements and requests for regulatory intervention, key concerns affecting its members have not been adequately addressed by the GRA. COMAC noted that these unresolved issues continue to create uncertainty for oil marketing companies operating in the sector.
The Chamber’s latest concern relates to what it describes as a significant discrepancy within the GRA’s system regarding the due date for tax remittance on petroleum product liftings. According to COMAC, the anomaly exposes oil marketers to avoidable compliance risks and the possibility of penalties, even where companies have acted in good faith.