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    Ghana likely to secure $3bn from IMF for economic support

    Tax incentive for young entrepreneurs-opportunities and challenges

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    USAID Feed the Future Program provides funding to Agrihouse Foundation’s 1H1G Initiative

    Government disappointed by Standard & Poor’s downgrade rating

    Yara’s Grow Ghana initiative to help empower farmers and boost yields

    Invest for Jobs and partners of N4G Project graduates 654 girls trained in fashion skills

    S&P downgrade: Gov’t urged to quicken pace of fiscal consolidation

    The Gadget Master opens first outlet in East Legon

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    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

    WAPCo commits to cleaner and reliable energy

    Government eyeing GH¢750m with new E-VAT policy

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    National AfCFTA Policy Framework and Action Plan launched to boost trade

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

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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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