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High Court grants GRA power to recover GH179.4m [Video]

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Landing Pages and Sales Conversion
Ghana Revenue Authority

An Accra High Court has issued a landmark ruling on the tax assessment of Maersk Drillship IV Singapore, declaring that its income arising from its Ghanaian Permanent Establishment is assessable, rejecting the company’s claim of exemption under the Petroleum Agreement.

The total money involved is a substantial sum of $15.5 million ($15,513,221.16) in tax revenue.

This comprises $12.8 million ($12,805,543.20) in direct taxes and $2.7 ($2,707,607) million in indirect taxes.

Breaking down the figures, GRA has established an official exchange rate of GH₵11.5668 to the dollar.

Utilizing this conversion rate, the total tax revenue of $15,513,221.16 transforms into GH₵179.4 million (GH₵179,438,326.513488).

The court, comprising Justices Mrs Janapare A. Bartels-Kodwo, Alex Poku-Acheampong, and Jerome Noble-Nkrumah, delivered the judgment in response to an appeal filed by Maersk Drillship IV Singapore.

The crucial issues addressed by the court included determining the party whose income was under assessment, the assessability of the income, and …

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