-Gulf Energy leads the way
Our country needs developments in various sectors of the economy and without a vibrant industrialized hub, the only resort to government’s realization and execution of budget requirements is through revenue mobilization through efficient payment of taxes of citizens and corporate institutions.
Responsible corporate citizenship on all fronts is key to supporting government’s efforts to ensure the enhancement of the daily lives of the average Ghanaian, society and the nation at large.
The Downstream Petroleum Industry particularly the Oil Marketing Companies is responsible for over GHC500 million in revenue for the government on a monthly basis and thus, a lot needs to be done to create an enabling environment for such businesses to thrive in order to continuous tax payments and a consequent progress of our dear country.
One such company that has been passionately driven, internally motivated and intentionally determined to contribute its quota to good corporate citizenship and the development of our nation is Gulf Energy Ghana Limited
Gulf Energy Ghana Limited has paid a total of GHC 409 million as taxes to government through the Ghana Revenue Authority between January 2020 and April 2021. Even though the year 2020 was pandemic infested and unpredictable for many businesses due to the havoc done by the COVID-19 virus, the company paid in excess of GHC267 million to the government in taxes for products lifted. In the first few months of 2021, Gulf Energy Ghana Limited has paid GHC142 million.
This culminates into a total of about GHC409 million in taxes to the government between the period of January 2020 to April 2021.
This efficiency demonstrated in tax payments is key to supporting government’s grand vision of boosting the economy in various sectors and a worthy example to all institutions.
According to Chairman Richard K. Atikpo, Gulf Energy is committed to supporting the efforts of government transforming the economy especially in the area of Job Creation and it is very important that businesses that benefit from the Ghanaian space do more in helping government achieves its developmental commitments by paying their taxes.
“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.
At Gulf, we have contributed significantly to Governments kitty over the years and we believe that if all corporate entities do more in the payment of their taxes, which is a statutory obligation, government would thus be in the position to provide the much needed infrastructure and other support services that can positively impact the economy. Our country needs developments in various sectors of the economy and without a vibrant industrialized hub; the only resort to government’s realization and execution of budget requirements is through revenue mobilization through efficient payment of taxes of citizens and corporate institutions.”
He further added that though the Oil industry has had its challenges over the years with pricing and geopolitical issues, the industry in Ghana was competing on a strong footing and would confidently see a transformation over time following government’s efforts to improving the sector.
Chairman Richard K. 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 which include helping fund the construction of a 50-bed facility at the Battle Training Camp for the Ghana Armed Forces Training Base at Bundase, a suburb of Accra, supporting governments efforts at curbing the dreaded COVID 19 by providing items including Personal Protective Equipment (PPEs), disposable bed sheets rolls, Video Laryngoscopes, Dissecting Forceps, bedsteads, bedside desks, carrier stretchers, examination beds, wheelchairs, food trolleys, metro shelving, suction machines and more worth Millions of Euros and also donating items worth millions of cedis to various orphanages, groups and individuals to support them in diverse ways.
Gulf Energy was established to engage in the supply of petroleum products to the local market as well as to other countries in the sub region. Over the years, Gulf Energy has built its capacity and is the preferred choice to supply petroleum products delivering up to 30,000mt of Gasoil and 25,000mt of Gasoline monthly in Ghana through its related companies.