The Movement with Integrity for National Development (MIND) has frowned on the inclusion of West Oil Investment in the recently audit report published by the General Auditing Commission (GAC).
According to the report, as an oil importer, West Oil Investment failed to remit its financial obligation in the amount of US$2,858,565 to the National Road fund (NRF) for the accounting periods ranging from July 1, 2018 to June 30, 2020.
The group calls on the government entity to immediately rectify this as it is a mistake and represents a mischaracterization of the company’s effective compliance with its financial and other obligations under the Liberia laws.
It was reported by the local media that several companies relative to the National Road Fund have been defaulting on their obligations to the fund and mentioning the West Oil Investment, an oil importer, that has been involved with providing services to local communities through the Movement with Integrity for National Development (MIND) under its corporate social responsibility, the Movement said it has investigated the listing of West Oil Investment and has observed that in view of the documents provided to it by the company relative to its compliance with tax and other financial obligations under our laws, it could be an absolute oversight on the Part of the Liberia Revenue Authority (LRA) or the GAC to have included West Oil Investment as a default company.
Documents in the group’s possession showed that throughout the accounting periods under review, the company has been fully compliant with its tax obligation and wondered why such publication by the GAC captured this tax-compliant entity.
“This report by the GAC poses a wrong characterization on the reputation of the entity and has the proclivity to undermine the company’s standing within the business environment of its kind thus making it to be dominated by its peers,” MIND expressed.
The integrity movement further opined that the company has other international interactions and frowned that this mischaracterization of it being a defaulter in tax compliance could further impede its strides being made in the international oil market.
MIND strongly believes that that was an error that in its view was an overnight and strongly urges the requisite authority to immediately rectify that serious integrity document.
The group reminded that no commodity can be lifted from the LPRC by any company when such has not met every prerequisite provisions for clearing adding, “We deeply find this to be an error or oversight and call on the government through the agency (ies) responsible to do the proper due diligence and salvage the name of this tax compliant and public-friendly company from this mistake of facts.”
