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Business News of Wednesday, 28 October 2015

Source: B&FT

GRA pushes to retrieve taxes

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The Ghana Revenue Authority (GRA) has said it will retrieve all monies owed the state by recalcitrant businesses operators to boost national revenue.

Mr. Frank Jones Abban -- Deputy Commissioner Preventive, GRA -- speaking at a seminar on post-clearance audit held in Accra said: “We will retrieve whatever monies that are due the country.”

The seminar was aimed at sensitising stakeholders to help companies conduct businesses on the local and international market so goods liable to specific import/export controls are properly declared; including prohibitions and restrictions and restrictions, licences, quota arrangements, Customs and Excise, warehouses and other procedure arrangements.

The seminar was meant to elicit cooperation and ensure compliance, and also to enable business operators so as to help avoid reassessments and associated costs by identifying weaknesses within company’s internal linkages and controls.

“We will continue to create awareness and educate the business public to understand and appreciate the objectives, functions operations, processes and procedures to ensure Customs compliance,” he said.

Mr. Abban said the Post Clearance Audit will help companies conduct business in international and domestic markets by first arranging for rulings on selected products upon request, and providing information on the full range of options and benefits that may be available.

He said GRA is currently undergoing reforms to enable the Authority serve the taxpaying public better by taking advantage of modern technology to mobilise sufficient revenue for national development.

He urged the businesses to comply with the Customs base rules to ensure compliance at the country’s ports.

Explaining the objectives of the Post-Clearance Audit (PCA), Mr. Abban said the department is to ensure that Customs declarations have been completed in compliance with Customs requirements via examination of a trader’s systems, accounting records and premises.

He said the stakeholder must appreciate the post-clearance audit and comply with Customs rules to help them do business. “Our objective is to ensure that business operators pay the right duties to the state.”

The Ghana Revenue Authority (GRA) has cautioned recalcitrant taxpayers to urgently settle all tax obligations, as not doing so is an infringement of the country’s tax laws.

According to the Authority, a tax audit has revealed that taxpaying companies are constantly defaulting their payment obligation; and this is a serious offence against the tax laws.