Tag: Ghana Revenue Authority
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GRA to engage importers and exporters over amended VAT structure
The Ghana Revenue Authority (GRA) has responded to concerns raised by the Importers and Exporters Association of Ghana over a possible 12 percent increase in the prices of some commodities should it go ahead to implement the amended Value Added Tax (VAT) rate. According to the importers and exporters association, the amendment of the VAT …
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GRA assures of improved systems to regulate its auctioning processes
The Ghana Revenue Authority (GRA) has assured that it is on course to automate its systems to block all leakages in the collection of revenue in the country. This follows the failure of the Authority to account for the auctioning of 1,719 confiscated vehicles during the period 2015 to 2017 in the recent Auditor General’s…
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GRA begins implementation of six new tax reliefs
The Ghana Revenue Authority, GRA, has commenced the implementation of some six tax reliefs introduced by the government as part of efforts to cushion taxpayers against the impact of the COVID-19 pandemic and support efforts by small and medium-sized businesses to create jobs. The implementation of these reliefs follows the passage of relevant legislation by…
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GRA readies itself for implementation of e-levy ahead of Parliamentary approval
The Ghana Revenue Authority (GRA) has begun preparations towards the implementation of the yet-to-be approved electronic transfer levy. Although the bill for the controversial levy is still under consideration in Parliament, a letter signed by the Commissioner-General of the Authority hints that the revenue collection entity is already developing a monitoring platform for the full…
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GRA in talks with stakeholders to increase tax on tobacco products
The Ghana Revenue Authority (GRA) says plans are underway to revise the current tax structure on tobacco products in the country. Tobacco products such as cigarettes, cigars, and cheroots are taxed in Ghana. The taxes include excise tax and sales tax or VAT, import duty, a health insurance levy, ECOWAS levy, and economic development and…
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GRA achieves 2021 revenue target with GH¢57.32bn; highest growth in 10 years
The Ghana Revenue Authority (GRA) has exceeded its 2021 tax collections target of GH₵57.06 billion. According to the Authority, it was able to collect 57.32 billion cedis, as against a target of ¢57.06 billion projected in the 2021 budget. A statement, issued by the Ghana Revenue Authority, indicates that the figure represents a growth rate…
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GRA to begin nationwide collection of data on properties
The Ghana Revenue Authority (GRA) has served notice to the general public especially persons who own, rent or occupy properties that it is undertaking a data collection exercise on properties nationwide. This exercise is in line with Section 33 (1 & 2) of the Revenue Administration Act, 2016 (Act 915) which states that for the…
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GRA to reject companies’ expenses without VAT invoice from October 1
The Ghana Revenue Authority (GRA) says it will reject any expenditure incurred by any company in Ghana without a Value Added Tax (VAT) invoice starting from October. This, according to the Authority, forms part of moves to, among other things, ensure that all tax revenue leakages are sealed. Over the years, the Ghana Revenue Authority…
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Tony Oteng-Gyasi appointed as Board Chairman of GRA
The President, Nana Addo Dankwa Akufo-Addo has appointed Tony Oteng-Gyasi as the new Board Chair of the Ghana Revenue Authority, (GRA). The former President of the Association of Ghana Industries, and Managing Director and Chairman of Tropical Cable and Conductor Ltd will replace Professor Stephen Adei as the new Chair of the Board of the…
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Mobile Money agents meet GRA over proposed 10% tax on their earnings
The news of a ten percent tax expected to be paid by mobile money agents from their cash-out services has been met with opposition, as the agents say the tax is being imposed on them is uncalled-for. The government, in a new directive, has asked telcos to deduct a 10% tax from the cash-out service…