Tag: GRA
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OMC’s likely to repeat infractions in audit report if GRA refuses to ‘bite’ – COPEC
The Chamber of Petroleum Consumers (COPEC), says some Oil Marketing Companies (OMC’s) in the country are likely to default on the payment of taxes on petroleum products lifted from the Tema Oil Refinery (TOR) next year if political interference in the affairs of the Ghana Revenue Authority (GRA) is not halted. The 2020 report of…
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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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We’ll comply with 10% tax directive but give us two months – MoMo agents
The Mobile Money Agents Association of Ghana has revised its position on the impending 10% tax on cash-out commissions of its members. The association after indicating earlier that it will transfer the cost onto customers says it wishes to further engage with the Ghana Revenue Authority (GRA) on the implementation of the tax. Leadership of…
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GUTA welcomes GRA’s decision to collect taxes digitally
A little over a week since the Ghana Revenue Authority (GRA) decided not to accept personal and corporate cheques for the payment of taxes and levies in any of its offices, President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng says businesses are hopeful the move will help government achieve its revenue…
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Downstream petroleum sector revenue up due to our monitoring system – SML
Government has witnessed a significant increase in revenue generated from the country’s downstream petroleum sector due to the improved monitoring of in-flows and out-flows at the various oil marketing company depots nationwide. Within a period of ten months, the monitoring service being provided by a private revenue assurance firm; Strategic Mobilization Ghana Limited, SML, raked…
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Government’s new tax policies to take effect from May 1
The implementation of the new tax policies announced in the 2021 budget statement and duly approved by Parliament will take effect from May 1, 2021. The implementation date was announced in a statement issued by the Ghana Revenue Authority (GRA) on April 20, 2021. According to the government the implementation of the new taxes which include…
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Ghana card numbers to become TIN from April 1
All National Identification numbers will become Tax Identification Numbers [TINs] from April 1, 2021. This was disclosed by President Nana Addo Dankwa Akufo-Addo in his State of the Nation Address in Parliament today, Tuesday, March 9, 2021. “Mr. Speaker for the first time, we have enrolled 15.5 million people onto the National Identity System [Ghana…
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Ghana card identification number to replace TIN in April 2021 – GRA
Effective April 1, 2021, taxpayers will be required to use the Ghana Card Identification Number for tax purposes. This is according to the Ghana Revenue Authority, GRA. The Authority states that this forms part of efforts to identify and rope in more eligible taxpayers, especially those in the informal sector and enable organizations to easily…
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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,…
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GRA to issue certificates of origin for exporting firms under AfCFTA
The Ghana Revenue Authority is set to ramp up the issuance of certificates of origin to exporting firms in the country. This comes after government designated the Customs Division of the Ghana Revenue Authority (GRA) as the Competent Authority for the issuance of Rules of Origin Certificate under the African Continental Free Trade Area (AfCFTA).…