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29.10.2008 Business & Finance

Taxpayers to receive awards

By gna

Forty-four corporate entities and individuals would receive various awards for their outstanding contribution towards revenue mobilization for the year 2007.

A statement signed by Mr Kwame Owusu, Chairman, Taxpayers' Award Planning Committee, said the second Taxpayers' Awards Night would be held on Thursday at the State Banquet Hall in Accra.

The types of awards to be received are grouped into tax types - Corporate Income Tax; Petroleum Revenue; Value Added Tax; Excise Revenue; Pay-As-You-Earn (PAYE) and Self-employed.

The awards are graded in platinum, gold, silver and bronze.

The statement said the ceremony was a collaborating effort between the Revenue Agencies Governing Board (RAGB) and the Ministry of Finance and Economic Planning.

The statement said the awards night was aimed at whipping-up voluntary Tax-Compliance among corporate bodies and individuals.

It explained that the main criterion for selection for the awards was the compliance level of taxpayer and not necessarily the quantum of payment.

The statement said the objectives for instituting the award were to show appreciation to taxpayers for their contribution to national development and encourage voluntary tax complaint among corporate bodies and individuals.

It is also to foster closer collaboration among the revenue agencies; Large Taxpayers Unit (LTU); Customs, Excise and Preventive Service (CEPS), Internal Revenue Service (IRS); the Value Added Tax Service (VATS) and above all complement the respective tax education campaigns.