Business News of Tuesday, 1 May 2018

Source: classfmonline.com

'Street beggars won’t be taxed' - GRA

According to GRA beggars on the streets do not fall within the taxable threshold(file photo) According to GRA beggars on the streets do not fall within the taxable threshold(file photo)

The Ghana Revenue Authority (GRA) has denied media reports it will be taxing street beggars in Ghana.

There were reports on Monday, April 30 that the GRA intends taxing street beggars.

The reports claimed also that the exercise will target individuals, especially women selling Dubai Wax prints and other imports through door-to-door, as well as neighbouring nationals trading on bicycles in the Northern region.

But in a statement the GRA said: “ The authority wishes to inform the general public with regards to the position of law on taxation of persons as stated in the Income Tax Act 2015 (ACT 896) as follows:

“The Income Tax Act 2015 (ACT 896) states that the chargeable income of a person for a year of assessment is the total of assessable income of that person for the year from each employment, business or investment.

“The Act also indicates that when a person has no chargeable income or the income is below the taxable threshold the person is not expected to pay tax and therefore does not file tax returns.”

The statement added: “With regards to the above, therefore, it must be stated that aims received by beggars on the streets do not fall within the taxable threshold. They, therefore, do not pay tax on the aims received.”