Wan Heng Ghana Limited, producers of Sol Cement, say they are actively taking measures to resolve their tax-related concerns with the Ghana Revenue Authority (GRA).
This follows the closure of the Chinese-owned cement manufacturing company by officials of the GRA for tax default amounting to more than GH¢700 million.
The company, located in the Tema Industrial Area, was found to have violated Value Added Tax (VAT) regulations, corporate income tax, and accrued penalties following a tax audit conducted by the GRA’s tax enforcement division.
In a press release, the company apologized and assured its stakeholders that it was committed to resolving the matter.
“We acknowledge that we are indebted to the Ghana Revenue Authority for unpaid taxes. We are fully committed to resolving this matter in a responsible and timely manner. We want to reassure our valued customers, stakeholders, and the public that we are taking immediate and proactive steps to address this issue. We are in discussions with relevant tax authorities to develop a structured repayment plan that aligns with our financial capabilities and ensures that our tax obligations are met.
“SOL Cement remains dedicated to its mission of contributing to the growth and development of Ghana. We understand that paying our taxes is an essential part of fulfilling this commitment. We apologize for any concerns or inconveniences this situation may have caused, and we promise to keep all our stakeholders informed throughout this process,” the company said.
Below is the full statement
Official Statement from Wan Heng Ghana Limited (Sol Cement)
Accra, 10-23-2023 — We wish to address the recent news regarding the closure of Wan Heng Ghana Limited (producers of Sol Cement) and its outstanding tax liabilities to the Ghana Revenue Authority.
As a leading cement manufacturing company, we understand the importance of our financial responsibilities and the impact they have on our nation’s development. We acknowledge that we are indebted to the Ghana Revenue Authority for unpaid taxes.
We are fully committed to resolving this matter in a responsible and timely manner. We want to reassure our valued customers, stakeholders, and the public that we are taking immediate and proactive steps to address this issue.
We are in discussions with relevant tax authorities to develop a structured repayment plan that aligns with our financial capabilities and ensures that our tax obligations are met. SOL Cement remains dedicated to its mission of contributing to the growth and development of Ghana.
We understand that paying our taxes is an essential part of fulfilling this commitment. We apologize for any concerns or inconveniences this situation may have caused, and we promise to keep all our stakeholders informed throughout this process.
We appreciate the trust and support that our customers and partners have placed in us over the years, and we are determined to rectify this situation while continuing to provide top-quality cement products and services.
We thank you for your understanding and patience during this challenging period. Sol Cement remains committed to being a responsible corporate citizen and a reliable contributor to the Ghanaian economy.