Ghanaians Given End Of April To File Tax Returns

Corporate entities and individuals are expected to file their tax returns on the last Friday of April, 2018.

This was made known by Mr Eric Sebastian Awuni, the Principal Tax Officer of the Ghana Revenue Authority (GRA), at the Stanbic Trade Series held in Accra.

Mr Awuni said under the new tax regime, every income earning Ghanaian was supposed to file his or her tax returns.

'The enforcement of the amended income tax law 2016 (Act 907), requires the filing of tax returns to be done by private individuals and not just corporate entities and I encourage all Ghanaians to take this seriously and file their tax returns so we can achieve a Ghana beyond Aid,' he said.

The income tax law, Mr Awuni said, was amended in 2016 to revise and consolidate the many scattered tax laws and amendments into one document.

Mr Kodwo Arizie, the Head of Transactional Products at Stanbic Bank Ghana, said the Bank considered such engagements as critical avenues for sharing industry knowledge with Small and Medium Enterprises.

It also serves as a valuable feedback for the Bank as it tried to better serve the needs of its business clients.

'Stanbic Bank has been operating in Africa for the past 155 years, giving us an understanding of the terrain and the dynamics of the African market,' Mr Arize said.

'We are, therefore, better placed to advice businesses across different sectors as we have the financial solutions that speak to the specific needs of all businesses. Beyond this, we have firm relationships with solid banks across the globe making foreign currency transactions seamless for our customers.'

The Stanbic Bank Trade Series is a platform that aims at engaging businesses and SMEs on how to improve trade, create an enabling environment for growth and solicit feedback from customers.

GNA