Taxpayers within the Bolgatanga Tax Payers Service Centre (TSC), have been lauded for their civic responsiveness and cooperation in filing their tax returns appropriately and promptly.
However, those with a lukewarm attitude are urged to up their tax obligations.
This was disclosed by the Manager of the Bolgatanga Taxpayer Service Centre (TSC) of the Ghana Revenue Authority (GRA), Bismarck Shaibu Mahatma, in an interview with ModernGhana News in Bolgatanga, Capital of the Upper East Regional, on the side-lines of tax performance visibility as the year draw to a close.
Mr Mahatma explained that, for the Value Added Tax, the payment is encouraging.
He noted that the only problem is because it is self-assessment, the taxes are collected and paid based on their own accord. He however, advised taxpayers to keep proper books of records and make them readily available to GRA revenue officers upon request for scrutiny and speedy filing of the returns.
He further explained that there are two types of taxes GRA collects that is the standard and the flat. With the standard, he indicated that there is input and output credit relationship where the taxpayer takes credit of the input taxes the person pays and the input tax is deducted from the output tax, the difference is what the person pays to GRA.
Unlike the flat tax, he indicated that the input cost one incurs becomes part of the cost built up and the amount charge, is the same that the fellow pays to GRA.
Mr Mahatma added that the current flat-rate stands at 3% plus the one percent Covid-19 making 4 percent in total. With regards to the standard tax rates; 2.5% Get fund, 2.5% NHIL and 1% Covid-19, making 6% in all.
These levies, he stated will be added to the cost of the item, then the VAT of 12.5% will now be imposed on the cost plus the levies to arrive at your sales. In this case, the taxpayer is allowed to take credit only on the 12.5% and not the levies.