Sol Cement to cease trading until it pays 40% of its tax bill

The Ghana Revenue Authority (GRA) has directed Sol Cement in Ghana to settle at least 40 per cent of the company’s outstanding tax debt before it can resume operations.

The GRA closed the cement plant two weeks ago due to the company’s defaulting on tax payments of GH7S09m (US$60.6m), including value added tax.

Sol Cement has had difficulties in meeting its tax obligation, especially as significant volumes of raw materials are imported forts cement production. “We will allow them to reopen once they make a 40 per cent settlement of their liabilities and provide a realistic plan for the remaining amount,” said Kwabena Gayambre, commissioner of domestic taxes at GRA.

“They have 30 days within which the company should come up with a satisfactory arrangement of how to pay the remaining 60 per cent.

The parent company of Sol Cement, Wan Hong Ghana, said, “We are fully committed to resolving this matter in a responsible and timely manner.”