Petrosol Ghana Limited pays GH¢241.5 million in taxes and levies to regulators in 2022

July 18, 2022
Petrosol Ghana Limited pays GH¢241.5 million in taxes and levies to regulators in 2022
Petrosol fuel station

Petrosol Ghana Limited, a privately owned oil marketing company (OMC), demonstrated its commitment to ethical business practices by paying almost GH¢241.5 million to the (GRA), the (NPA), and the Bulk Oil Storage and Transportation (BOST) in 2022.

The amount covers petroleum taxes, levies, and regulatory margins.

Despite facing economic challenges, Petrosol remained dedicated to fulfilling its tax and regulatory margin payment obligations to the state.

Lawrencia Himans, the Head of Finance and Planning at Petrosol, highlighted the company's tax compliance record for the first half of 2023, with over GH¢170 million paid to state agencies for petroleum taxes, levies, and regulatory margins.

In addition to tax compliance, Petrosol adheres to NPA regulations for fuel stations' infrastructure standards and health and safety requirements.

The company also meets the conditions set by the (GSA) to deliver quality fuel in the right quantity to consumers through its licensed fuel stations across the country.

CEO Michael Bozumbil expressed appreciation to the company's loyal customers and emphasized their dedication to continuous improvement to meet customer needs. He also thanked the regulatory agencies, especially the NPA, for their support and cooperation.

Petrosol's tax compliance was acknowledged by the Commissioner-General of the Ghana Revenue Authority (GRA), Rev. Dr. Amishaddai Owusu-Amoah, last year.

Furthermore, the company has received a triple international certification from the International Organization for Standardization (ISO) for Quality Management, Occupational Health and Safety Management, and Environmental Management.

With 120 fuel stations spread across the country, Petrosol is currently ranked among the top 10 (OMCs) by the NPA.

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