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Wednesday, October 4, 2023
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    GH¢2.11bn T-Bill auction likely to be oversubscribed, GCB Capital Research predicts

    TOR-Torentco deal: Some staff raise fresh alarm over formation of subsidiary companies

    Activities at Ghana’s ports begin to rebound after 2023 slow start

    BoG’s viability analysis framework to safeguard financial institutions – Governor

    2023 customer service week kicks off at Kotoka International Airport

    The geopolitical forces driving today’s oil market

    IMF raises concerns over the energy transition price tag

    Prices of petroleum products to rise marginally in October – IES

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    Ghana loses GHS 49.5 million to cyber fraud in nine months

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    GH¢2.11bn T-Bill auction likely to be oversubscribed, GCB Capital Research predicts

    TOR-Torentco deal: Some staff raise fresh alarm over formation of subsidiary companies

    Ghana loses GHS 49.5 million to cyber fraud in nine months

    Activities at Ghana’s ports begin to rebound after 2023 slow start

    BoG’s viability analysis framework to safeguard financial institutions – Governor

    2023 customer service week kicks off at Kotoka International Airport

    Cedi weakens against the dollar in October after months of relative stability

    IMF raises concerns over the energy transition price tag

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    GH¢2.11bn T-Bill auction likely to be oversubscribed, GCB Capital Research predicts

    TOR-Torentco deal: Some staff raise fresh alarm over formation of subsidiary companies

    Activities at Ghana’s ports begin to rebound after 2023 slow start

    BoG’s viability analysis framework to safeguard financial institutions – Governor

    2023 customer service week kicks off at Kotoka International Airport

    The geopolitical forces driving today’s oil market

    IMF raises concerns over the energy transition price tag

    Prices of petroleum products to rise marginally in October – IES

    FBNBank Ghana launches Akye promotion

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    Ghana loses GHS 49.5 million to cyber fraud in nine months

    Nigeria aims for $5 billion tech investment by 2027

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

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    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

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GRA announces measures to provide relief to taxpayers amid COVID-19

byNerteley Nettey
May 2, 2020
in Local Economy, Top Stories
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As part measures to mitigate the economic burden on taxpayers due to the novel Coronavirus pandemic, the Ghana Revenue Authority, GRA, has announced that taxpayers who redeem all their outstanding debts due the Authority by June 30, 2020, will be granted a remission of penalties on their principal debts.

These measures, according to the GRA, are also to ensure that taxpayers fulfill their tax obligations during the period.

In a statement issued and signed by the Commissioner General, Mr. Ammishaddai Owusu-Amoah, the GRA said the due date for filing annual tax returns will be extended from four months to six months. This includes Company Income Tax (CIT) and Personal Income Tax (PIT).

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However, “Companies that can file returns before the extension are encouraged to do so. These companies will be classified as compliant and will be eligible for early Tax Clearance Certificate and Withholding Tax Exemption Certificate,” the statement added.

Among other tax exemptions, the Ghana Revenue Authority stated that the due date for filing of Self-Assessment returns which was March 2020, has been extended to April 30, 2020.

Also, the month of June will be the Annual Tax Month for 2020 instead of April, 2020.

Additionally, the GRA will permit the deduction of contributions and donations towards COVID-19 as allowable expenses for tax purposes and taxes on selected third-tier pension withdrawals will be waived.

“The due date for sale of Vehicle Income Tax (VIT) Stickers for the 2nd quarter has been extended by one month, ending May 15, 2020,” it further noted.

Meanwhile, all taxpayers are expected to file their monthly returns by the due dates using email addresses provided and pay their taxes by Swift Transfers.

Click here for full statement:

In the wake of the Coronavirus pandemic, several businesses and organizations have been badly hit.

The partial lock-down earlier announced by government also restricted movements and impeded many taxpayers’ ability to meet their tax obligations.

Currently, Ghana has recorded 2,169 cases over 18 deaths and 229 recoveries.

According to the John Hopkins Coronavirus website, globally, over 1 million people who tested positive for the COVID-19 have also recovered .

Meanwhile, the total infections stand at 3,259,167 with 233,439 deaths.

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