Gold Fields, Kosmos Energy join list of companies disputing tax bills by the GRA

Gold Fields Ltd. and Kosmos Energy Ltd have joined a list of companies disputing back tax bills by the Ghana Revenue Authority (GRA).

Gold Fields and Kosmos join Tullow Oil Plc and MTN Group Limited who have been told they owe back taxes. They all dispute the GRA’s claims but Gold Fields and Kosmos have declined to give financial details.

“Ghana is clearly facing fiscal and economic challenges at the moment,” Gold Fields spokesman Sven Lunsche said in response to Bloomberg.

“We are hopeful that the government will not resort to unreasonable fiscal measures that will further imperil the challenges facing the corporate sector.”

Gold Fields is in talks with the GRA to resolve the demand for back taxes from 2018 to 2020.

MTN, which has been ordered to pay $776 million in back taxes, has until Friday to reach an agreement with the Ghanaian authorities.

Kosmos Energy, headquartered in Dallas, said the authorities claimed the company underpaid certain taxes and other contractual fiscal obligations.

It maintains that the claim is without merit and will be “vigorously disputed” it if required.