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Tag Archives: Tax

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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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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Pilot property tax rate before implementation—Tax Analyst

A tax analyst has called on government to pilot the implementation and collection of the property rates in 2018. According to William Owusu Demitia, a Senior Associate Consultant at Ali-Nakyea & Associates, this would help government identify key issues that has to be addressed before a nationwide implementation. As part of measures to improve domestic resource mobilization, the Finance Minister during the ...

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‘Free SHS tax’ will burden Ghanaians – Ablakwa

Former Deputy Minister of Education, Samuel Okudzeto Ablakwa, has stated that the proposal for the introduction of a new tax specifically to support the government’s Free SHS programme will not be appropriate. He however admitted that, there is the need for a dedicated source of funding for the programme if it is to be successful. Mr. Ablakwa’s comment comes on ...

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Most property owners unware of property tax

New tax reforms to be introduced by government next year will see an upward review of the property tax rate as well as the intensification of enforcement of the collection of that tax. The Finance Minister during the 2018 budget reading reiterated that the constitution enjoins MMDAs to mobilize revenue through sources like the property tax, collection of which is ...

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Gov’t yet to decide on tow tax implementation

Government is awaiting the report of Parliament’s Committee on Road and Transport before taking a decision on the controversial tow tax. The mandatory levy for vehicle users to tow broken down vehicles was suspended last month after pressure from the public and civil society. It is unclear when the report of the committee would be ready. After briefing Parliament on ...

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Tow tax implementation suspended – Titus Glover

A Deputy Minister for Roads and Transport, Titus Glover, has announced the suspension of the controversial towing tax for vehicle owners until further notice. Confirming the decision on Eyewitness News on Monday,  the Deputy Minister, said the suspension, which is in response to public concerns over the fees, will give Parliament time to reassess the Legislative Instrument supporting the fee. ...

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No tax cuts for Abossey Okai spare parts traders

Traders of imported vehicle spare parts may not be enjoying the tax cuts on their wares anytime soon. At least, this is the indication from the industry with the implementation of the scrapping of the 1 percent special import levy by the GRA. The businesses were tipped to benefit from the tax cuts to ease the cost of doing business ...

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1-district, 1 factory under threat by withdrawal of tax exemptions?

There are fears that government’s decision to withdraw legitimately and lawfully granted tax exemptions from strategic investing companies in Ghana, could threaten the Government’s industrialization agenda if it is not reversed. The worry is that the move could lead to a massive drop in the inflow of strategic investments into the country, and has the potential of scaring away existing ...

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