The Ghana Revenue Authority is now expected to carry-out a tax audit of all the oil exploration firms in the country.
This follows a recommendation by the Public Interest and Accountability Committee (PIAC) to tax authority to embark on the audit exercise.
The recommendation was captured in PIAC’s half-year report on oil revenue management.
The committee’s report claimed that based on the growing issue of tax payments by some of the companies operating in Ghana’s oil fields, it had become necessary for the GRA to launch a full-fledged tax audit on these oil firms.
{loadmodule mod_banners,nativeads}
 The PIAC report also recommended a greater level of partnership between the committee with the GRA in assessing and invoicing all surface rentals accrued to the state.
Meanwhile, with Ghana missing its revenue target for the first half of the year as well as an increasing need to shore-up domestic revenue sources, the call by PIAC could well be deemed timely both for the GRA and the country at large.
Â