Tag: GRA
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Government hits businesses with new tax policies (Audio)
Businesses should be ready to comply with the Government with its new tax implementation initiatives for the rest of this year – 2018. This is because some new tax policies are set for implementation beginning next month; March. The two new tax policies to be rolled out are the excise tax stamp and the Harmonised ECOWAS…
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Enforcing TIN: Defaulters to be denied key services
Effective April 1, 2018, banks, the Passport Office, the DVLA, the Registrar General’s Department, among other offices will not transact business with any individual who does not have a Tax Identification Number (TIN). This is because the Ghana Revenue Authority (GRA) will be enforcing the implementation of the policy from April to allow taxpayers comply…
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Beverage manufacturers want tax stamp suspended
Businesses in the Food and Beverage industry, have renewed appeals for government to suspend the implementation of the excise tax stamp policy. According to them, they have not been properly integrated into the implementation processes hence the need to address their concerns before the implementation of the policy. “Our engagements with government to reconsider its…
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Businesses divided over success of Tax Amnesty law
Businesses have expressed mixed reactions to the new Tax Amnesty policy being implemented by the Ghana Revenue Authority (GRA). Some have cast doubt over the policy’s ability to reduce tax evasion while others believe the policy could increase tax compliance. The concerns were raised at a session on the relevance of the Tax Amnesty Law…
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Importers reject tax evasion claims by AGI
Importers and freight forwarders have dismissed claims of engaging in malpractices at the ports leading to the gradual collapse of local manufacturing industries. They maintain that such allegations could not be possible as they go through strict scrutiny in the clearing process. The comments come on the back of concerns raised by the Association of…
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Freight forwarders bemoan ‘ineffective’ paperless system
Freight Forwarders have lamented over the poor implementation of the paperless system at the port. The freight forwarders say the system has not improved transactions at the ports especially as paperwork continues to dominate their transactions. The paperless system which has been in operation since September last year (2017), is among others expected to reduce…
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GRA to prosecute defaulters of excise tax stamp
The Ghana Revenue Authority (GRA) has served notice it will prosecute all businesses who fail to comply with the implementation of the excise tax stamp policy. The GRA has also warned that defaulters will risk seizure of their goods for non-compliance. The sanctions are however expected to be rolled out in April when the grace…
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GRA rejects spare parts dealers’ high tax claims
The Ghana Revenue Authority (GRA) has rejected claims the charging of benchmark value on spare parts is to blame for the gradual rise in the prices of the goods. The GRA explains that the tax has since 2015 been canceled with the implementation of the single window platform. The comment by the Authority follows threats…
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Tax stamps won’t impede paperless clearing systems – GRA
The Ghana Revenue Authority (GRA) has told Citi Business News that the implementation of the excise tax stamp policy should not impede the paperless clearing system at the ports. This is contrary to some concerns being raised by businesses at the ports that the policy has a potential threat to the efficiency of the paperless…
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GRA closes down law firm for owing GH¢1m
The Ghana Revenue Authority has closed down law firm, Peasah Boadu for owing taxes to the tune of 1,000,787 cedis. The taxes in arrears are Corporate Income Taxes (CIT) and Pay as You Earn (PAYE). The exercise was carried out by the Domestic Tax Revenue unit of the GRA in a bid to clamp down…