The Ghana Revenue Authority has failed to achieve its target for the first quarter of 2017. Of the GHC7.611 target, it managed to generate GHC7.396 million, thus a shortfall of GHC215.8 million The figure, however, showed a nominal growth of 17 per cent and real growth of 3.5 per cent over the same period for … Read more
The Ghana Revenue Authority has directed financial institutions to immediately desist from charging VAT on financial services. This follows government announcing some tax reliefs including abolishing of VAT on financial services during its 2017 budget presentation in Parliament. A statement signed by Acting Commissioner-General, Emmanuel Kofi Nti said “Parliament passed the Value Added Tax (Amendment) … Read more
The Acting Commissioner-General of the Ghana Revenue Authority (GRA), Emmanuel Kofi Nti, has written to all banks operating in Ghana to discontinue forthwith the charging of taxes on financial services. This follows the passing of the Value Added Tax (Amendment) Act by Parliament. The amendments were proposed as part of the 2017 budget statement and … Read more
Tax cut is intended to some relieves to financial institutions The Ghana Revenue Authority (GRA) has discontinued the 17.5% Value Added Tax (VAT) imposed the on financial service in the country. According to the letter dated April 18, 2017, and signed by the Acting Commissioner General of the Ghana Revenue Authority, Emmanuel Nti, the discontinuation … Read more
Traders of imported vehicle spare parts may not be enjoying the tax cuts on their wares anytime soon. At least, this is the indication from the industry with the implementation of the scrapping of the 1 percent special import levy by the GRA. The businesses were tipped to benefit from the tax cuts to ease … Read more
Traders of imported vehicle spare parts may not be enjoying the tax cuts on their wares anytime soon. At least, this is the indication from the industry with the implementation of the scrapping of the 1 percent special import levy by the GRA. The businesses were tipped to benefit from the tax cuts to ease … Read more
Barring any last-minute hitch, four tax cuts announced in the 2017 budget will be passed by Parliament today. Finance Minister, Ken Ofori-Atta, and his team yesterday submitted the amendment bills of some four laws to parliament to allow for government’s tax cuts. The bills were read for the first time on the floor and referred … Read more
The Ghana Revenue Authority (GRA) has allayed fears of the public that the tax incentives announced by the Finance Minister in the 2017 Budget would hinder its tax collection efforts. In line with the Government’s election campaign promises, the Finance Minister, Mr Ken Ofori-Atta, in the 2017 Budget Statement to Parliament, announced the scraping off … Read more