02.11.2005 Business & Finance

IRS appeals to workers to declare extra income

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Sunyani, Nov 02, GNA - Mr Kwesi Nyankah, the Assistant Commissioner of Taxes in Brong Ahafo, has appealed to workers to declare extra monies they earned to the Internal Revenue Service because such monies are taxable.

"The IRS is doing well in revenue mobilization but it is left to workers to pay taxes on extra monies they earn", he said. Speaking in an interview with Ghana News Agency, the Assistant Commissioner said the service had mounted an exercise to rope in all professionals in the formal sector who refuse to honour their tax obligations.

"Most lawyers in the region work with registered firms and there are very few of them who work individually. In Sunyani, there are only four private lawyers who have failed to pay tax. We want them to do the right thing by paying their taxes," he said. The Value Added Tax imposes tax on goods and services such as those provided by professionals including accountants and lawyers. However, many of these professionals evade tax just as more of them evade income tax on their earnings.

On the payment of taxes by workers of NGOs, he said there was 95 per cent compliance rate in the region. Mr Nyankah said there was similar good compliance rate of the tax stamp introduced last year.