GGEA to engage GRA on tax regime

GGEA Ghanaian German Economic Association

The Ghanaian-German Economic Association (GGEA) seeks to engage with the Ghana Revenue Authority (GRA) on the New VAT Amendment Act and Tax Regime.

The Association at its business forum on Ghana's Economic Outlook under the theme, Ghana's Path to Economic Recovery reckon that there's a critical need for the GRA to be engaged on its modes of revenue collection and operations as well as some tax policies.

The need for this engagement arose after Mr. Gordon Dardey, Senior Manager at the Tax Unit of KPMG made a presentation on the New VAT Amendment Act and Tax Regimes introduced by the government to Ghana as part of efforts to raise revenue for economic recovery and for macroeconomics stability.

Participants who were drawn from top business executives, academia and civil society organizations raised concerns and sentiments about some regulations and operations of the GRA in dealing with businesses in recent times. Amongst these concerns were issues about withholding tax.

To carry out these concerns, the president of the GGEA Mr. Stephen Antwi admitted that, given the widespread nature of the sentiment of business executives, it's imperative that there must be further engagement with GRA for more insight, education and deliberations to strengthen and create a conducive tax compliance and revenue collection environment and processes.

The business and industry players are of the belief that tax collection must be done in a way that does not crowd out business.

It’s the GGEAs hope that they will be able to create the platform for such further engagement that will bring harmony between the GRA and business.