Home › Business       03.05.2020

Covid-19: GRA Announces Measures To Provide Relief To Taxpayers

The Ghana Revenue Authority, GRA, has announced that taxpayers who redeem all their outstanding debts due the Authority by June 30, 2020, will be granted a remission of penalties on their principal debts.

This is part of measures to mitigate the economic burden on taxpayers due to the novel Coronavirus pandemic,

These measures, according to the GRA, are also to ensure that taxpayers fulfil their tax obligations during the period.

In a statement issued and signed by the Commissioner-General of GRA, Mr. Ammishaddai Owusu-Amoah, the Authority said the due date for filing annual tax returns will be extended from four months to six 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.

Among other tax exemptions, the Ghana Revenue Authority stated that the due date for filing of Self-Assessment returns which was March 2020, has been extended to April 30, 2020.

Also, the month of June will be the Annual Tax Month for 2020 instead of April 2020.

Additionally, the GRA will permit the deduction of contributions and donations towards COVID-19 as allowable expenses for tax purposes and taxes on selected third-tier pension withdrawals will be waived.

“The due date for sale of Vehicle Income Tax (VIT) Stickers for the 2nd quarter has been extended by one month, ending May 15, 2020,” it further noted.

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.

---citinewsroom

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