Tag: Association of Oil Marketing Companies
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OMCs call on NPA to deal with influx of Chinese tanker trucks
The Association of Oil Marketing Companies is calling on the National Petroleum Authority (NPA) to urgently take measures to deal with the influx of Chinese oil haulage trucks in the country. The Tanker Owners Union initially raised concerns over the importation of tanker trucks into the country in a letter to the National Petroleum Authority. The Association…
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Our members must fulfil tax obligations to remain in good standing –AOMC
The Association of Oil Marketing Companies says it expects its members to fulfil all their financial obligations to the government to remain in good standing. Chief Executive Officer of the Association, Kwaku Agyeman Duah, stated that such developments were unhealthy for the sector. “GRA has got a mandate to make sure that everybody pays tax.…
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AOMCs call on government to address revenue leakages in petroleum sector
The Association of Oil Marketing Companies is calling on the government agencies to do all they can to address all inadequacies in the petroleum sector which cause the country to lose revenue. According to the association, many of its members who are tax compliant are forced out of business by their non-compliant counterparts offering outrageous…
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We don’t foresee further rise in fuel prices soon – AOMCs
Board Chairman of the Association of Oil Marketing Companies, Henry Akwaboah has said that members of his association are unlikely to increase fuel prices as being anticipated. “Even though prices on the world oil markets have gone up slightly, I do not foresee oil marketing companies increasing their prices during this window. At least I…
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GRA must clamp down on tax evaders in oil sector – AOMCs
The Association of Oil Marketing Companies is urging the Ghana Revenue Authority to ensure that the new taxes introduced in the country are charged on every litre of fuel sold on the market. The association also wants the GRA to put in place measures to stop tax evasion to ensure that government realises the purpose…
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Fuel monitoring system will help check smuggling – Oil Marketing Companies
The Association of Oil Marketing Companies says the introduction of the National Retail Outlet Fuel Monitoring System is a game-changer in sanitizing the sector. According to the association, this will help rid the system of non-compliant businesses. In an interview with Citi Business News, President of the Association of Oil Marketing Companies, Henry Akwaboah, commended…
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Government must tackle tax evasion to boost revenue – AOMCs
The Association of Oil Marketing Companies believes government may not have to introduce new taxes on petroleum products if steps are taken to address the issue of tax evasion. A recent report by the Chamber of Bulk Oil Distributors (CBOD) revealed that Ghana lost GH₵1.9 billion to tax evasion in 2019. Speaking to Citi Business…
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Blame recent fuel hikes on rise in world prices not new taxes – OMCs
The Association of Oil Marketing Companies (AOMC) has attributed the latest increases in prices of petroleum products to the prices and forces of demand and supply on the world market. In a statement to clarify issues on the back of the government’s newly proposed petroleum levies, the OMCs said the upward adjustment of the fuel…
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Boycott fuel stations that fail to reduce prices – COPEC urges consumers
The Chamber of Petroleum Consumers, COPEC, is urging motorists to avoid Oil Marketing Companies that have refused to reduce fuel prices at the pumps. OMCs across the country were expected to reduce their prices from Monday, March 16, 2020, which was officially the next pricing window, and following a drop in crude oil prices by…
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IES charges NPA to encourage OMCs to reduce fuel prices
The Institute for Energy Security (IES), has called on government through the National Petroleum Authority (NPA), to bring pressure to bear on Oil Marketing Companies (OMCs), to reduce prices of fuel at the pumps to reflect the trend on the international market and the relative stability of the Cedi against the US Dollar. Even though…