GRA Archives - Page 11 of 12

29 Dec

GRA Announces Complete Reversal Of Benchmark Discount Policy On Goods, Vehicles From January 1, 2023

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The Ghana Revenue Authority (GRA) has announced a complete reversal of the discount on the Free on Board (FOB) value of general goods and Home Delivery Value (HDV) on vehicles from January 1, 2023. This means importers will not enjoy anymore 10% discount on vehicles and 30% discount on all other goods from next year. According to the GRA, the move is in line with the 2023 Budget and Economic Policy via which the government intends using to accrue more revenue for the State. In a statement to all sector commanders under the Customs Division sighted by Joy Business, the…

21 Dec

GRA To Descend On Event Centers, Pubs Evading Taxes During Christmas

wontumionlineBusinessGRA, Joseph Annan

The Ghana Revenue Authority (GRA) has indicated it will descend on the hospitality industry during the festive season to clamp down on all event centers, pubs, restaurants and cinemas operating unlawfully. This came to light after the enforcement team of the GRA embarked on an exercise to seize and invite owners of some nine shops operating in the Achimota Mall in the Greater Accra region for non-registration of company as well as invoicing infractions. The Head of Enforcement Unit at the GRA, Accra-Central, Joseph Annan, told Joy Business some businesses operating in the mall complied with the laws of the…

02 Dec

GRA To Focus On Hospitality And Tourism Sector During Festive Season To Rake In Revenue

wontumionlineBusinessGRA

The Compliance and Enforcement Unit of the Ghana Revenue Authority (GRA) says it has turned its attention to operators in the Tourism and Hospitality Industry to ensure that the right taxes are paid during the festive season. According to the GRA, there are close to 100 grand events slated for December which will be keenly monitored by the authority for tax compliance. Speaking to Joy Business, the Head of Operations at the GRA, Kwesi Eghan said it will embark on mystery shopping during the season to stop the evasion of taxes. “What we are doing now is that, Christmas is…

02 Nov

Customs Intercept 1,200 ‘Togo Cars’ In Two Years

wontumionlineBusinessGRA

The Customs Division of the Ghana Revenue Authority (GRA) has said an estimated 1,200 ‘Togo cars’ have been intercepted, in the Greater Accra Region alone, within the last two years. These cars initially entered the country legitimately but became illegal after exhausting their stay – falsifying documents to merit legal status and thereby evade import taxes. Ag. Commissioner of Customs, Seidu Iddrisu Iddisah, told B&FT that the Division seizes an average 50 cars every month in hotspot regions – including the Greater Accra, Ashanti, Western and Northern Regions. The scourge, accordingly, has resulted in an estimated US$30million revenue loss in…

17 Oct

Deploy Aggressive Means Of Collecting Taxes- Kwaku Daworo Tells GRA

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The host of Movement In The Morning Show, Kwaku Dawuro has requested for the use of aggressive means to collect taxes as Ghana Union of Traders Association (GUTA) have refused to pay VAT describing disparities exist in its payment. According to GUTA the new VAT policy compels consumer to go through double taxation, imposing a flat levy on businesses operating below five hundred thousand threshold. Retailers above the threshold however, are made to pay VAT standard of 19.25 percent, this new development has led to the refusal of the payment. Speaking Kwaku Dawuro said that ''one of IMF’s conditions in granting…

14 Oct

Limit Political Interference To Make GRA Effective – Tax Expert

wontumionlineBusinessGhana Revenue Authority, GRA

Tax Expert at OXFAM Dr. Alex Ampaabeng has stated that political interference is rendering the Ghana Revenue Authority (GRA) less effective in the discharge of its mandate. According to him, the rampant political intrusion into the administration and operation of very sensitive state institutions such as the Ghana Revenue Authority is costing the country a lot. Dr. Ampaabeng further called for the appointment of the head of GRA to be done by the staff of the authority instead of the president making such appointment. “The political games we are playing are costing the country a lot. I look forward to…

12 Oct

New Tax Formulae: I am Disappointed In GRA For Not Issuing An Official Communique- Ama Daaku Says

wontumionlineFeatured, News, TrendingAma Daaku, GRA

A communicator of the New Patriotic Party (NPP), Ellen Ama Daaku has expressed her disappointment over Ghana Revenue Authority’s (GRA) and Government Spokespersons' inability to vividly explain to Ghanaians the new tax formulae. She said this on Movement In the Morning Show on Wednesday 12th October, 2022. Speaking to Kwaku Dawuro, Ama Daaku said that ''government has not introduced new taxes, its just a new formulae introduced. There have been no form of education or explanation and people are painting government black. They are not even picking up calls, respond to the media or give Journalists the right information''. ''They…

12 Oct

GRA Shuts Down 4 Branches Of Palace Mall In Accra For Non-Compliance With E-VAT Invoicing

wontumionlineNewsE-VAT, GRA, Palace mall

Officials of the Ghana Revenue Authority (GRA) have shut down four branches of the Palace Mall. The closure occurred on Tuesday, October 11, 2022. The affected branches are; Labone, Spintex, Atomic roundabout and Weija. They were closed for non-compliance with the Authority’s E-VAT Invoicing system. According to the GRA, a number of selected shops have deliberately failed to issue VAT invoices electronically when customers walk in to make purchases. The GRA says failure of these shops to abide by its directive sends signals that they are under-declaring tax. The Area Manager of GRA’s Accra Central office, Joseph Annan, in a…

11 Oct

Kumasi Traders Shut Down Shops: GUTA Claims There Is Disparity In The Payment Of VAT

wontumionlineFeatured, News, TrendingGhana, GRA, GUTA, Kumasi, Mr. Benjamin Yeboah, traders

Some traders in the Ashanti Region have closed their shops after Ghana Revenue Authority(GRA's) new tax formula began implementation on Monday 9th October, 2022. According to the report, GRA officials have been designated to sit in front of shops to keep watch over the Value Added Tax (VAT) on the number of items they sell. The Ghana Union of Traders' Association(GUTA) however, has revealed there is disparity in the payment of VAT. Speaking to Kwaku Dawuro on Movement In The Morning Show, Mr. Benjamin Yeboah the welfare officer of GUTA stated that ''traders are battling with the rise in the…

11 Oct

Intensify Tax Education- Kafui Amegah Tells GRA

wontumionlineFeatured, News, TrendingGRA, Kafui Amegah, Kumasi, Tax, VAT

A communicator of the New Patriotic Party (NPP), Kafui Amegah(NPP) has said Ghana Revenue Authority(GRA) needs to intensify education on the payment of tax to boost payment. His comment comes after some shops in Kumasi shut down to protest what was described as 'killer' taxes and VAT on their businesses. Speaking to Kwaku Dawuro on Movement In The Morning Show, Mr Amegah said that ''GRA needs to educate Ghanaians on taxation and the Value Added Tax(VAT). Most people are not aware they need to pay income tax and VAT on every profit they make. The country stability rest on taxes,…