GRA Archives - Page 6 of 13

11 Sep

GRA Warns Clearing Agents Over Declaration Of False Documents To Evade Custom Duty

wontumionlineBusinessAlhaji Idrisu Seidu Iddisa, clearing agents, custom duty, GRA

The Customs Division of the Ghana Revenue Authority is warning clearing agents at the ports to desist from the use of false documents with the aim of helping importers to evade custom duty at the port. The warning follows an intelligence in February 2023 on some two companies and importers that had falsified trade documents on their bills of lading in clearing goods from the Tema Port. Commissioner for Customs, Alhaji Idrisu Seidu Iddisa, warned that persons involved in such practices shall be made to face the law. “It was revealed that some agents processes customs declarations with inaccurate particulars…

04 Sep

¢6.703Bn Energy Sector Levies Collected In 2022 – 2022 ESLA Report

wontumionlineBusinessEnergy Sector Levies, ESLA, GRA

Actual Energy Sector Levies collected from January 2022 to December 2022 totalled ¢6.703 billion, the 2022 Annual Energy Sector Levy Act (ESLA) Report has revealed. The actual collection was below target by ¢578.40 million or 7.9%, mainly on account of low consumption of petroleum products and unrealised power sales. The 2022 collections, however, recorded an increase of ¢409.43 million (6.5%) above the 2021 collections of ¢6.293 billion due to an increase in the volume of petroleum products lifted compared to the 2021 volumes. Similarly, total lodgement into the established and other accounts under the ESLA amounted to ¢6.429 billion, out…

01 Sep

GRA Shuts Down Stores, Arrest 10 Managers For Failing To Comply With VAT Regulations

wontumionlineBusinessGRA

Following a visit to some shops at the Awoshie-Anyah Market and Ablekuma enclave, the Ghana Revenue Authority has arrested 10 supermarket managers for failure to comply with the Value Added Tax (VAT) regulations. The arrest occurred after mystery shoppers went to the stores covertly to confirm that the owners were breaking the law, a task force from the authority paid the stores an unscheduled visit. The shops closed down for either failing to issue VAT invoices or issuing them in a selective manner were VKand T Trading Enterprise, Freemago Enterprise, Molla Enterprise, Delcam FB Stationery, Abi Ventures, Jomulet Enterprises and…

30 Aug

GRA Closes 10 Shops, Hands Over Tax Defaulters To The CID

wontumionlineBusinessGRA

The Ghana Revenue Authority (GRA), as part of the issuance of Value Added Tax (VAT) invoice exercise, has handed over 10 shop managers to the Criminal Investigation Department of the Ghana Police Service for investigation. The managers will be investigated for non-compliance with the country’s tax laws and for tax infractions. The shops are VK & J Trading Enterprise, Frimako Ventures, Molla Ventures, Yamiz Ventures, Jomilet Tiles and Abi Ventures. Others are Delcam FB Limited Books & Stationery, Tiwalet Whosales, Klelon Mall, and Regal Enterprise all located in the Ablekuma North Municipal District in the Greater Accra Region. Mr Joseph Annan, Area Enforcement Manager…

24 Aug

GRA Rakes In ¢440 Million From E-commerce In 6 Months

wontumionlineBusinessE-commerce, GRA, Rev. Dr. Ammisshadai Owusu Amoah

The Ghana Revenue Authority collected about ¢440 million from e-commerce businesses in the country since the introduction of taxes on their services in the latter part of 2022. According to the Commissioner General of the GRA, Rev. Dr. Ammisshadai Owusu Amoah, about 110 firms have registered on the portal and paying their taxes. He made the revelation to Joy Business after addressing the 11th Annual International Tax Conference in Accra. This year’s tax conference theme “Taxation and economic development; a review of Ghana’s tax policies”was chosen to reflect the current state of the country’s tax collection which has been very…

22 Aug

GRA Targets GH¢455m In Shisha Tax, Et Al

wontumionlineBusinessGRA

The Ghana Revenue Authority (GRA) is seeking to raise some GH¢455million in additional revenue from newly introduced excisable products, such as electronic cigarettes, electronic liquids (shisha) and other tobacco products, by the end of the year. The list also includes items comprising beverages, fruit juices as well as spirits and wines. Shisha, a smoking device, is also known as waterpipe or hookah. The World Health Organisation has indicated that the volume of smoke inhaled in a typical shisha session (approximately one hour) is equivalent to smoking between 100 and 200 cigarettes. In this vein, the GRA explained that the levy…

18 Aug

GRA To Introduce Textile Tax Stamp

wontumionlineBusinessGRA, Kwabena Apau, Tax

In a related development, to bring about sanity and fairness in the local textile industry, an excise tax stamp on textiles has been introduced by the Ghana Revenue Authority. The Excise tax stamp, specially designed with digital and other security features, will be affixed on textile products to indicate taxes and duties have been paid or will pay. The textile tax stamp will control the importation and local manufacture of textiles for revenue purposes, and check tax evasion through smuggling as well as illicit trading and counterfeiting. According to the GRA, sanctions will be imposed on non-compliant traders. The Head of…

17 Aug

Pius Hadzide Fires NDC For Protesting 10% Betting Tax

wontumionlineBusinessBetting tax, Government, GRA, Pius Hadzide

The Chief Executive Officer of the National Youth Authority (NYA), Pius Enam Hadzide, has berated the opposition National Democratic Congress (NDC) for protesting the recently imposed 10% betting tax. He said the NDC’s conduct means they support activities that will affect the value systems of the country. The former Deputy Information Minister speaking in an interview with Citi FM on Wednesday, August 16, urged Ghanaians to call out the NDC. According to him, the NDC is just being populist for election purposes. “I’m pretty much scandalised listening to NDC, with the impression they are creating. If there is a problem…

16 Aug

GRA Bags GH¢1.2 Billion In VAT Collection From January To May 2023

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Value Added Tax (VAT) collections by the Ghana Revenue Authority (GRA) from January and May this year amounted to GH¢1.2 billion. This represent a 92.4 per cent increase of the GH¢649.93 million collected within the same period last year. According to Assistant Commissioner Joseph Annan, Manager of the Accra Central Area Enforcement Unit of the GRA, the increase in VAT receipts was due to the VAT enforcement exercise and other measures instituted by the Authority to encourage tax compliance. He was speaking to the media in Accra on the sidelines of a VAT enforcement exercise undertaken on August 15, 2023. “We have…

16 Aug

GRA Continues Swoop On VAT Infractions

wontumionlineBusinessGhana Revenue Authority, GRA

The Ghana Revenue Authority (GRA) is continuing its arrest and clamp-down on non-compliant VAT businesses. In that vein, managers of some four business firms – Legacy Hotel, North Kaneshie; Kegali Hotel at Sakaman Estates; Mascot Hotel in Dansoman; and Silver Cloud 68 supermarkets at Mamprobi – were arrested and invited by the GRA to assist in investigations pertaining to non-issuance and selective issuance of VAT receipts. Head of Accra Central Enforcement Unit of the GRA, Assistant Commissioner Joseph Annan, during an enforcement exercise in Accra said the operations will continue till full compliance is achieved. The GRA, Mr. Annan said, will conduct…