May 27, 2024
MyNewsGh

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Revenue assurance and audit service provider, Strategic Mobilisation Ghana Limited (SML) has said that a documentary by the Fourth Estate, a media outfit, on its revenue assurance contract with the Ghana Revenue Authority (GRA) is a set of misrepresentations, false claims, and shows a lack of understanding of the company’s operations.

SML, in a press release reacting to the investigative documentary, noted that rather than a ten year contract with the GRA as put out by the Fourth Estate, it has a five year contract, adding that the claim by the Fourth Estate that it gets about $100 million per year is also untrue.

The company challenged the Fourth Estate to provide proof that it has a ten year contract and pockets some $100 million annually.

“The documentary represents a set of misrepresentations, false claims, and a general lack of understanding of the entire operations of the company.

We challenge Fourth Estate to produce any contract anywhere that is for a 10-year period. The 5th PPA Board at its 46th Board meeting in a letter referenced PPA/CEO/09/2286/23 approved a contract duration of five (5) years.

Again, it’s not true that SML takes $100 million annually from its contract. The Upstream operations of the company have not yet begun, and no revenue has been realized. No monies have been paid to SML; the $100 million per year payment to SML that has been alleged is purely a figment of the author’s imagination and not factual,” the company said in a press release.

It insisted that it has done nothing illegal in its highly risky contract to provide revenue assurance for the petroleum upstream sector.

“GRA invests nothing in the entire investment chain. There is no cost commitment from the GRA. SML is not exempted from the payment of duties and taxes,” SML added.

The investigative report by the Fourth Estate had stated that SML was being paid millions of Cedis for essentially doing nothing since its work had no way of ensuring that the right taxes and levies were paid to government, the reason for its contract with the GRA. But SML has insisted that it gives government value for money.

Full press release by SML below:

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Ghananewshome

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