ACCRA, Ghana, 2nd November: The Ghana Publishing Company Limited has disclosed an outstanding GH¢22 million Value Added Tax (VAT) liability owed to the Ghana Revenue Authority (GRA), presenting another financial challenge to the company’s ongoing recovery efforts.
Managing Director of the company, Nana Kwasi Boaitey Esq., revealed this during the Government Accountability Series at the Presidency.
He said management was informed about the liability approximately a month ago through an official letter from the Ghana Revenue Authority.
According to him, the records indicate that the company’s VAT obligations for 2020 to 2024 were not paid, resulting in the accumulated debt of GH¢22 million.
Mr. Boaitey said management is currently engaging the GRA to explore ways of addressing the outstanding liability.
He described the debt as one of the additional challenges confronting the company as it works to recover from the financial difficulties inherited by the current administration.
The disclosure comes despite significant improvements in the company’s financial performance in 2025, when it recorded a profit after tax of GH¢16.96 million, representing a 661.36 per cent increase over the previous year’s figure.
Mr. Boaitey explained that upon assuming office in February 2025, management inherited serious liquidity challenges, weak financial controls and operational inefficiencies.
To address these problems, the company introduced electronic payment systems to ensure that revenue generated from its operations goes directly into its bank accounts.
The intervention was also intended to strengthen expenditure monitoring and eliminate loopholes that could facilitate financial leakages.
Management also launched a campaign against fake gazettes, which the Managing Director said had been depriving the company of revenue through the activities of middlemen who collected money from unsuspecting customers.
Despite the challenges, Mr. Boaitey maintained that the company is making significant progress and remained committed to improving its financial position.
He said management would continue to address inherited problems while pursuing reforms aimed at making the Ghana Publishing Company financially sustainable.
He added that the company’s recovery would require continued financial discipline and support to enable it to fulfil its mandate as the nation’s premier publishing and printing institution.
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Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️) Presidential Affairs Correspondent | Ghana 🇬🇭