Parliament passes Energy Sector Levies Amendment Bill to tighten fuel subsidy regime

Explaining the rationale behind the amendment in Parliament, Finance Minister Dr Cassiel Ato Forson said some individuals had been exploiting the system by purchasing diesel, disguising it as fuel oil and fraudulently claiming tax exemptions intended for industrial users.

What we are saying is that we are equally going to amend the Revenue Administration Act to make the tax refund system relating to industries buying fuel oil move from 90 days to 14 days," he added.

The government believes the amendment will help safeguard public revenue, improve the integrity of the downstream petroleum sector and ensure that fuel subsidies benefit only legitimate industrial users.