{"id":357272,"date":"2017-09-27T10:57:37","date_gmt":"2017-09-27T10:57:37","guid":{"rendered":"http:\/\/citifmonline.com\/?p=357272"},"modified":"2017-11-10T11:10:23","modified_gmt":"2017-11-10T11:10:23","slug":"recover-lost-gold-export-proceeds-punish-culprits-ali-nakyea","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/09\/recover-lost-gold-export-proceeds-punish-culprits-ali-nakyea\/","title":{"rendered":"Recover lost gold export proceeds, punish culprits – Ali Nakyea"},"content":{"rendered":"
A tax expert, Ali Nakyea, has called for the recovery of revenue reportedly lost by the country due to the\u00a0non-repatriation of proceeds made on the export of about $2.3 billion worth of gold from Ghana.<\/p>\n
He also called for those responsible for the loss of revenue to the country to be named and punished.<\/p>\n
[contextly_sidebar id=”HbDvZyYBZulfrJ4QPgdsZEfPJRR4j51b”]The Daily Statesman Newspaper reported on Wednesday that proceeds from the almost two-and-half billion dollar exports were not\u00a0repatriated, thus “enriching unscrupulous foreign gold dealers, mainly Indians and Chinese, and their Ghanaian collaborators” in the process.<\/p>\n
The paper also alleged that officials in the Mahama administration under whose tenure the loss was incurred, had allowed the illegality because they were beneficiaries of the scam.<\/p>\n
According to Ali Nakyea, anyone found to have been involved in the scam, should be sanctioned, and that efforts should be made to recover the lost funds.<\/p>\n
“Illicit financial flow is not only the trade mis-pricing, bribery and corruption is also one. If you bring in items valued at one million and falsify the documents to read 300, 000, we are losing a tax element there. This is why the paperless system is welcome because you can\u2019t falsify a document as there aren\u2019t documents,” he said on the Citi Breakfast Show.<\/strong><\/p>\n “We have to make sure that any person found culpable does not stay in there. I believe in finding where the loss is, recovering the money and punishing the person. We need to recover first before we punish. We should just name and shame. We need to name, recover and punish; and these three make it shameful.”<\/p>\n “The various causes of illicit financial flow, trade mis-pricing, bribery and corruption and transfer pricing, are areas we should pay attention to so that we get enough to ensure that our tax system works…If the report is now out, I will be interested in how they can follow up and make sure we receive these monies. If indeed the gold moved out then we should get the compensation and the payment. ”<\/p>\n