{"id":403065,"date":"2018-02-20T20:08:13","date_gmt":"2018-02-20T20:08:13","guid":{"rendered":"http:\/\/citifmonline.com\/?p=403065"},"modified":"2018-02-20T20:08:13","modified_gmt":"2018-02-20T20:08:13","slug":"businesses-divided-success-tax-amnesty-law","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/02\/businesses-divided-success-tax-amnesty-law\/","title":{"rendered":"Businesses divided over success of Tax Amnesty law"},"content":{"rendered":"
Businesses have expressed mixed reactions to the new Tax Amnesty policy being implemented by the Ghana Revenue Authority (GRA).<\/p>\n
Some have cast doubt over the policy\u2019s ability to reduce tax evasion while others believe the policy could increase tax compliance.<\/p>\n
The concerns were raised at a session on the relevance of the Tax Amnesty Law on businesses by the UK Ghana Chamber of Commerce on Tuesday, February 20, 2017.<\/p>\n
Passed in December 2017, the tax amnesty bill seeks to improve voluntary compliance among taxpayers.<\/p>\n
Under the law, defaulting businesses will be allowed to pay a revised tax obligation that they had been in default for a period of time.<\/p>\n
The current law is expected to last for nine months; between January to September 2018.<\/p>\n