Tag: Ghana Revenue Authority
-
GRA takes on OMCs for not remitting consumer taxes totalling over GHS100 million
The Ghana Revenue Authority on Thursday, May 20, 2021, began an exercise to take on Oil Market Companies (OMCs) that have defaulted in honouring their tax obligations to the state. The exercise saw the GRA partially possessing and locking up assets of some seven oil marketing companies who, cumulatively, owe the state over GHS100 million…
-
GUTA welcomes GRA’s digitalisation move but raises security concerns
The Ghana Union of Traders Association has welcomed the recent announcement by the Ghana Revenue Authority to digitize payments for its services. In an interview with Citi Business News, the President of GUTA, Dr Joseph Obeng commended GRA for the latest initiative. “That is the new norm. The world is changing towards digitization, and so…
-
Replacing TIN with Ghana card won’t automatically increase revenue – Tax Analyst
A tax analyst, Francis Timore Boi says the replacement of the TIN with the Ghana Card for tax identification purposes by the Ghana Revenue Authority, will not immediately or necessarily result in the exponential growth in the country’s internally generated revenue. According to him, the growth will depend on how the Ghana Revenue Authority fully…
-
Ghana Card to replace TIN from today
Effective April 1, 2021, the Ghana Revenue Authority (GRA) will convert all National Identification numbers into Tax Identification Numbers (TIN). This forms part of efforts to identify and rope in more eligible taxpayers, especially those in the informal sector and enable organizations to easily share important data with the Authority. President Nana Addo Dankwa Akufo-Addo…
-
GRA pegs 2021 revenue target at GHS 60 billion
The Ghana Revenue Authority, GRA, has set a target of GHS 60 billion as its revenue target for 2021. This comes despite the ravaging impact of COVID-19 on the economy. Speaking at a press briefing in Accra, Commissioner-General of the GRA, Rev. Ammishaddai Owusu-Amoah, said though the amount is ambitious, the Authority has mapped out…
-
GRA exceeds 2020 revenue target by GHS2.6 billion
New data released by the Ghana Revenue Authority, GRA, shows that it has exceeded its GHS42.7 billion tax revenue target for 2020 by GHS2.6 billion. This follows a revision of the earlier target to GHS42.7 billion from GHS47.25 billion due to the impact of COVID-19. The authority collected GHS45.338 billion for the year under review,…
-
GRA sensitizes stakeholders on simplified tax laws
The Ghana Revenue Authority (GRA) has begun a nationwide sensitization of stakeholders on its simplified tax laws aimed at boosting compliance. The Authority abridged the tax laws with the support of the German Development Agency (GIZ) to make them user-friendly and easily accessible to taxpayers and to increase taxpayer understanding of the legal framework for…
-
CST inflows bolster GRA’s goal of exceeding GHC42.7bn target
The Ghana Revenue Authority’s goal of exceeding its revised 2020 target of GHS 42.7 billion Cedis as stated in the 2020 mid-year budget, is receiving a boost from higher than expected inflows from the Communication Service Tax (CST). This reduction in the Communications Service Tax from 9 % to 5 %, which took effect from…
-
Ignore ‘mischievous and malicious’ fuel smuggling allegations – GRA
The Ghana Revenue Authority (GRA), has described as false, accusations of fuel smuggling by its Customs Division. In a statement, the Authority asked the general public to disregard these “negative assertions” circulating on social media purported to be from a private radio station. “The Authority views these allegations as mischievous and malicious since they have…
-
Mid-year Budget Review: Expand tax net to boost revenue – GUTA to Gov’t
The President of the Ghana Union of Traders, GUTA, Dr. Joseph Obeng, wants Government to use the Mid-year budget review as an opportunity to widen the country’s tax net to capture many more businesses to boost revenue generation. The emergence of the Coronavirus Covid-19 disease, has disrupted trading globally, and Ghana is no exception. From…