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ACC Squeezes President Brother to Pay $127,547.75

HomeAYV NewsACC Squeezes President Brother to Pay $127,547.75

ACC Squeezes President Brother to Pay $127,547.75

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After thorough investigations by the ACC, T&S Company, of No. 2 Lightfoot Boston Street, Freetown and of Villa 55 OAU Village Hill Station­­, Freetown, was found wanting of failing to pay tax, being public funds to wit: GST on consultancy fee received from National Telecommunications Company (NATCOM) in respect of a NATCOM building construction project in the sum of One Hundred and Twenty-Seven Thousand, Five Hundred and Forty-Seven Dollars and Seventy-Five Cents (USD $127,547, 75).

According to the agreement reached with the ACC, as settlement, Mr. Koroma agreed to pay back in full, the said amount to the ACC within eight (8) months with effect from 15th November, 2018. He also agreed to pay the sum of Forty Thousand United States Dollars (USD $40,000) at the commencement of the agreement, which he had paid. Mr. Koroma made additional payments totaling Fourteen Thousand, Six Hundred and Five Dollars and Twenty Eight cents (USD$14,605,28) The remaining amount of Seventy-Two Thousand, Nine Hundred and Forty-Two Dollars and Forty-Seven Cents (USD $72,942,47) will be paid to the ACC, no later than 30th June 2019.

Within the past seven months, the ACC has recovered over Nine Billion Leones (Le 9, 000,000,000.00); part of which has been accordingly paid into the Consolidated Revenue Fund.

The Commission wishes to reassure the general public of its continued commitment and resolve in ensuring that public funds are protected, and where necessary, recovered.

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