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Business News of Sunday, 3 May 2020

Source: www.ghanaweb.com

Coronavirus: GRA details measures to provide relief to taxpayers

Ghana Revenue Authority logo Ghana Revenue Authority logo

The Ghana Revenue Authority (GRA) says taxpayers who will redeem all outstanding debts due the Authority by June 30, 2020, will receive a remission of penalties on their principal debts.

According to the GRA, these measures are put in place to ensure that taxpayers fulfill their tax obligations during the period.

A statement issued and signed by the Commissioner General, Ammishaddai Owusu-Amoah, indicated a six month’s extension for filing annual tax returns rather than the regular four months. This includes Company Income Tax (CIT) and Personal Income Tax (PIT).

However, “Companies that can file returns before the extension are encouraged to do so. These companies will be classified as compliant and will be eligible for early Tax Clearance Certificate and Withholding Tax Exemption Certificate,” the statement added.

The Ghana Revenue Authority also stated that the due date for filing of Self-Assessment returns which was March 2020, has been extended to April 30, 2020. The month of June will be the Annual Tax Month for 2020 instead of April, 2020.

Meanwhile, all taxpayers are expected to file their monthly returns by the due dates using email addresses provided and pay their taxes by Swift Transfers.