Gulf Energy pays GHC 409 million in taxes for 2020
Gulf Energy Ghana Limited has paid a total of GHC 409 million in statutory taxes to the government through the Ghana Revenue Authority between January 2020 and April 2021.
This was revealed by Executive Chairman Richard K. Atikpo, whose business portfolio also includes Lemla Petroleum and Legon Cities Football Club.
According to Mr Atikpo, Gulf Energy is committed to supporting the government’s efforts in transforming the economy, especially in the area of job creation.
The member of the Council of State representing the Oti Region encouraged business to be consistent in tax payments to help the state achieve its developmental projects.
“One of the biggest challenges of any government the world over is the raising of capital for all kinds of developmental purposes. Now, if the environment is great for a business to thrive, it is only fair that businesses that are doing well support governments efforts at raising capital from several sources, including our taxes,” he stressed.
He said Gulf Energy had contributed significantly to the government’s purse. If all corporate entities did the same, the government would be able to provide the much-needed infrastructure and other support services that can positively impact the economy.
He further added that the oil industry has had its challenges over the years with pricing and geopolitical issues, but the industry in Ghana is competitive in the international market.
He was confident of a boom following the government’s efforts to improve the sector.
Gulf Energy was established to engage in the supply of petroleum products to the local market and other countries in the sub-region.
Over the years, Gulf Energy has built its capacity to supply petroleum products, delivering up to 30,000mt of Gasoil and 25,000mt of Gasoline monthly in Ghana through its related companies.
Mr Atikpo was recently honoured by the Association of Oil Marketing Companies Executive Revellers for his outstanding contributions to the sector and being one of the Top 10 Petroleum industry giants of 2020.
He is also known for his Corporate Social Responsibilities, including the construction of a 50-bed facility for the Ghana Armed Forces (GAF) and the El-Wak COVID-19 isolation centre.