The Ghana Revenue Authority (GRA) has begun investigations into some tax evasion and money laundering allegations against some companies.

According to the GRA, penalties will be given to firms that a found guilty of perpetrating such acts.

The GRA in a statement on Thursday, April 8 said its attention “has been drawn to a press conference by the Movement for Truth and Accountability and subsequent publications by various media outlets alleging that about 1,200 companies involved in tax evasion, under-invoicing and money laundering have not been sanctioned.

The tax authority further refuted claims that it had failed to live up to its mandate.

Below is the full press statement: