Tag: GRA
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State loses GHC9bn due to reduction in benchmark values – GRA
The Ghana Revenue Authority, GRA, has revealed that government, in the last three years, has lost nearly GHC9 billion in revenue from taxes generated on imported goods as a result of the implementation of the reduction in the benchmark values policy. The amount was lost between April 2019, when the implementation of the policy was…
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GRA assures of robust system to keep records on all E-Levy deductions
The Ghana Revenue Authority (GRA) has assured that it has put in place enough systems to track and keep all records of deductions done as part of the implementation of the Electronic Transfer Levy (E-Levy). This follows an order from the Supreme Court charging the GRA to keep accurate records of all e-levy deductions to…
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GRA to address issues associated with E-Levy implementation on Thursday
The Ghana Revenue Authority (GRA) will later this week address questions from multiple stakeholders regarding issues that have come up following the implementation of the Electronic Transfer Levy (E-Levy). That’s according to the Ghana Chamber of Telecommunications. This comes on the back of numerous complaints about alleged unjustified deductions from people’s accounts, along with other…
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GRA launches new non-resident registration portal to mobilize GHC 1.7 billion
The Ghana Revenue Authority (GRA) has launched a non-resident E-commerce and Digital Service Registration Portal, which it says will help it collect about GH¢1.7 billion in revenue from online businesses like Netflix, Jumia, Alibaba, and Amazon among others. The operation of the portal is expected to commence from 1st April 2022. The launch of the…
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Clearance inspection agencies barred from ports are back – Stakeholders bemoan
Clearance inspection agencies, which were barred from operating at the nation’s ports by government in 2018, have returned to the ports on the blindside of government. This came to light at a forum on Port Relations organised by the Importers and Exporters Association of Ghana. Government in June 2018 charged all inspection agencies except the…
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Government set to announce a gradual reversal of Benchmark Value Reduction Policy
A deputy minister for Finance, Mrs Abena Osei-Asare has hinted at a pending announcement of a roadmap for a gradual reversal of the Benchmark Value Reduction Policy. The reversal of the Benchmark value reduction policy was met with stiff resistance from the trading community who threatened an astronomical hike in the price of imported goods…
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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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Implementation of revised benchmark values policy deferred again to Jan. 17
The Ghana Revenue Authority (GRA), has for the second time deferred the implementation of the reversal of reduction of values of imports (known as Benchmark Values) on selected items, to Monday 17, January 2022. The authority explains that the transitional arrangements are to ensure a smooth implementation. It is also to allow a storage free…
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Ministry of Finance denies dropping GH¢2.4 million e-levy service charge
The Ministry of Finance has dismissed allegations that the GH¢241,933,000 allocations in the Appropriations Bill for the Electronic Transactions Levy services have been dropped. It also denied claims that a private firm will be contracted to collect the levy on behalf of the government. The ministry also noted that the Ghana Revenue Authority (GRA) is…
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GRA to clamp down on tax defaulters after September 2021
The Commissioner-General of the Ghana Revenue Authority (GRA), Rev. Ammishaddai Owusu-Amoah says the authority will descend heavily on taxpayers who continue to default after the recent amnesty period elapses by the end of September 2021. Tax defaulters who have failed to pay taxes due the state for the past years or failed to file their…