We’ve not been paid GH¢1bn – SML reacts to KPMG report

Barely 24 hours after the release of a press statement from the Presidency detailing the outcome of KPMG’s audit of the GRA-SML deal, Strategic Mobilisation Limited has reacted to claims that it has so far received some GH¢ 1 billion from the deal.

In response to claims made in the KPMG audit report, Strategic Mobilisation Ghana Ltd. (SML) has asserted that it did not get GH¢1,061,054,778 as payment for its contract with the Ghana Revenue Authority (GRA).

SML denied that the GH¢1,061,054,778 figure reported was erroneous, adding that KPMG had provided the figure without accounting for the company’s investments or the taxes it had paid to the government during that time.

“KPMG quotes a figure as compensation to SML. It is interesting to note that this figure is quoted without reference to the investments made and the taxes paid by SML over the period within the consolidated contract.”

“The compensation of GH¢1,061,054,778.00 stated by KPMG is inaccurate,” SML said in a statement on Thursday, April 25, 2024.

Additionally, the company stated that an omission by KPMG to the effect of 31.5% of total compensation, which was deducted as GRA taxes, was misleading.

“SML finds that KPMG’s failure to state GRA taxes of 31.5% taken before payment, interest payments of 32% plus the investment repayment made by SML, and other taxes and duties over the period creates a very unbalanced impression of the relationship between the compensation and the investment and other related costs. This omission is highly misleading,” SML remarked.

SML reiterated its dedication to contributing to Ghana’s development by conforming to ethically acceptable standards and maintaining the quality of its work.