The Ghana Revenue Authority (GRA) has received a GH¢400 million tax payment from steel manufacturing giant B5 Plus Company Limited, a contribution that underscores the critical role of industry in financing national development and advancing the government’s domestic revenue mobilisation agenda.
The payment was presented during a working engagement at the GRA’s Domestic Tax Revenue Division (DTRD) in Accra, where the Commissioner of the Division, Dr. Martin Kolbil Yamborigya, commended the Tema-based manufacturer for its exemplary compliance record and urged other businesses and individuals to follow suit.
A Contribution to National Development
Dr. Yamborigya emphasised that the taxes paid by B5 Plus represent more than figures on a tax statement. “They represent a contribution towards the provision of roads, schools, hospitals, security, social interventions, and other public services that benefit all of us,” he said.
His remarks framed tax compliance as a partnership between business, citizens, and the state. A stronger domestic revenue base, he argued, is essential for sustaining development and reducing dependence on borrowing and external assistance.
The Commissioner also stressed the reciprocal duty of government to use public resources efficiently. “Government has a responsibility to use public resources efficiently and accountably,” he said, adding that the GRA must administer tax laws fairly, efficiently, and professionally.
A Transformative Journey for B5 Plus
B5 Plus’s position as a model taxpayer marks a remarkable reversal from its origins in the steel industry. The company acquired the assets of United Steel Company Limited in 2020 after the GRA had the financially distressed firm liquidated to recover a tax debt that had grown to more than GH¢400 million with interest and penalties. B5 Plus won the assets through a competitive bid and subsequently paid the outstanding tax liability of GH¢149 million in full .
Since then, the company has become one of Ghana’s leading corporate taxpayers. When President John Dramani Mahama commissioned the Phase II expansion of B5 Plus’s steel plant at Larkpleku in February 2026, he noted that the company had paid more than $300 million in cumulative taxes to the GRA and was on track to exceed $500 million .
The latest GH¢400 million payment adds to this trajectory, with the company having paid over GH¢1 billion in taxes so far in 2026 .
Industrial Expansion and Economic Impact
The B5 Plus tax contribution comes against the backdrop of significant industrial expansion. President Mahama commissioned the Phase II Steel Ball Mill and Section Mill manufacturing plant at Larkpleku in February, describing the facility as “the expansion of Ghana’s industrial ambition” .
The expanded facility strengthens domestic capacity to substitute imports, save foreign exchange, and stabilise supply chains. Ghana’s annual steel demand is estimated at over 1.2 million metric tonnes, driven mainly by construction, energy infrastructure, mining, and manufacturing—with a substantial portion historically met through imports .
President Mahama has said that if the facility reduces steel imports by even 20–30 percent annually, the foreign exchange savings alone could amount to hundreds of millions of dollars . The expansion is expected to create nearly 5,000 direct and indirect jobs and increase B5 Plus’s workforce to about 15,000 when fully operational .
GRA’s Broader Revenue Strategy
The payment is a significant boost to the GRA’s medium-term revenue mobilisation strategy. The Authority has set an ambitious target of GH¢310 billion in tax revenue by 2028, representing a doubling of the GH¢155 billion collected in 2024 .
According to Commissioner-General Anthony Kwasi Sarpong, the GRA collected GH¢182 billion in 2025 and is targeting GH¢225 billion in 2026, rising to GH¢260 billion in 2027 before reaching the ultimate target of GH¢310 billion by 2028 . The strategy focuses on strengthening compliance, broadening the tax base, and minimising revenue leakages without introducing new tax rates.
Call for Civic Responsibility
Dr. Yamborigya urged taxpayers to keep proper records, file accurate returns on time, and pay the correct taxes. He also appealed to consumers to help reduce revenue leakage by requesting VAT invoices for applicable purchases. “When you pay VAT, ask for your VAT invoice,” he said.
He encouraged the media to support public education and scrutiny, while reaffirming the GRA’s commitment to making compliance easier, fairer, and more convenient. Addressing B5 Plus directly, he concluded with a message linking corporate responsibility to Ghana’s future: “Your compliance is your contribution. Your contribution is part of Ghana’s development.”
