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Tag Archives: GRA

You can’t do business with gov’t without TIN – GRA warns

Kofi Nti

The Ghana Revenue Authority (GRA) has announced that individuals without a Tax Identification Number (TIN), effective today [April 3, 2018] will not be allowed to acquire a Driver’s license, open a bank account, get a passport, transact business with government, or register a business. The TIN, according to the GRA, is aimed at uniquely identifying potential taxpayers to broaden the ...

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GRA closes down company office over GH¢2.3 million unpaid tax

The Ghana Revenue Authority (GRA) has closed down the offices of Africa Central Cargo, a clearing agency at Tema, over its unpaid tax of GH¢2.3 million. The action came after the company persistently failed to comply with demand notices served on it. The Reverend John Yaw Boabeng, Chief Revenue Officer in charge of the Recovery, Debt Management and Enforcement Unit, ...

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Govt suspends import VAT on phones, day-old chicks, others

Government has suspended the charging of import VAT on some 64 commodity groups effective Wednesday, March 21, 2018. The decision was arrived at after extensive consultation between the government and various stakeholders. Citi Business News understands that the charges had been implemented since the 1st of March this year. The traders of such commodities comprising mobile phones, day old chicks, outboard motors ...

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Ghana losing GH¢5bn in property rates annually – CUTS Ghana

Ghana could be losing at least 5 billion cedis annually to property owners, due to the lack of the collection of property rates. This is the estimation of consumer rights group, CUTS Ghana. The group maintains that tapping into the potential should bridge the perennial revenue collection deficit that faces the country. The persistent issues of high cost of collection, ...

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Tax stamp: Two companies shut down, more to follow

More businesses which are affected by the excise tax stamp policy are to shut down their operations in the coming weeks over high cost of operation. The situation is expected to lead to possible shortages and eventual increase in prices, if authorities fail to step in. The warning is the latest from the Food and Beverage Manufacturers’ Association of Ghana. ...

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Parliament to pass another law to track tax evasion

Parliament is considering the passage of yet another law to track tax revenue of business owners who operate both in and out of Ghana. The Standard for Automatic Exchange of Financial Account Information Law will allow the Ghana Revenue Authority (GRA) to request for tax information on the operations of such business that happen outside Ghana. This means the GRA ...

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IMANI Ghana raises concern over imports, exports fumigation levy

Fumigation Levy on Imports and Exports to take effect on March 1, in addition to Tax Stamps and ECOWAS CET levy? But Contract for Fumigation Exercise Very Troubling. March 1, 2018 looks set to be a date importers will wish never came. On that day, two new tax policies will be out doored- the excise tax stamp and the Harmonised ...

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Government hits businesses with new tax policies (Audio)

Businesses should be ready to comply with the Government with its new tax implementation initiatives for the rest of this year – 2018. This is because some new tax policies are set for implementation beginning next month; March. The two new tax policies to be rolled out are the excise tax stamp and the Harmonised ECOWAS Common External Tariff (CET). Tax ...

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PEF seeks revision of upfront tax payments

The Private Enterprise Federation (PEF) has made a strong case for the GRA to review the current time frame for businesses to remit their taxes on the sale of products. The CEO of PEF, Nana Osei Bonsu explains that the current regime has impacted adversely on businesses due to delayed payments for the provision of services or sale of products ...

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Beverage manufacturers want tax stamp suspended

Businesses in the Food and Beverage industry, have renewed appeals for government to suspend the implementation of the excise tax stamp policy. According to them, they have not been properly integrated into the implementation processes hence the need to address their concerns before the implementation of the policy. “Our engagements with government to reconsider its position if it comes to ...

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