Audio By Carbonatix
The Board Chairman of the Ghana Revenue Authority, Ernest Kweissie has promised to give incentives to persons who diligently walk to the tax offices to pay the tax on gift items received during this yuletide.
“If people come and pay, we will give them special incentives for being truthful with us”.
According to the GRA, the gifts must be declared to the commissioner within 30 days upon receipt for 5 percent taxation. The tax law requires citizens to pay tax on gifts worth 50 Ghana cedis and more.
Speaking on Citi FM, Mr. Kweissie noted that he is not aware if individuals have gone to the tax office to pay taxes on any gift received in the Christmas season.
He added that they do not have a problem with companies and businesses because they can trace and tax them when they submit their returns but “the problem is with individuals."
“When we want to go to people’s homes for tax on gifts they receive, the cost of doing that will even exceed the tax that we are going to collect," he lamented.
Story by Adwoa Gyasiwaa/Myjoyonline.com/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Aksa bribery scandal: Ghana’s probe must be pursued with speed – Dafeamekpor
34 seconds -
Samson’s Take: When religion threatens peace, sanity must prevail
32 minutes -
Friendship: Why time matters less than continuity
40 minutes -
Africa’s AI moment: They say data is the new gold. But who is drilling it?
42 minutes -
Ghana delivers strong performance in retail market in half-year; value up 15.6% – Maverick Research
47 minutes -
The world’s oldest president left for a ‘brief stay’ in Europe. He hasn’t returned in two months
1 hour -
Parliamentary committee commends GIPA’s investment drive, backs key reforms
1 hour -
Livestream: Newsfile discusses AKSA energy deal, legal vacation and GoldBod losses
2 hours -
Jason Arday: 10 things you may not know about British-born Ghanaian former Cambridge professor found dead at 41
4 hours -
KNUST partners with government to manufacture locally-made agricultural machines and smart traffic lights
4 hours -
Government to add constitutional referendum to 2027 District Assembly elections
5 hours -
Ambassador Nancy Sam meets South Africa’s Thanda to strengthen Africa tourism collaboration
5 hours -
Government disburses GH¢23.1 billion to clear road contractors’ arrears – Roads Minister
5 hours -
NPP Ashanti elections: 1,020 delegates to choose 11 regional executives
6 hours -
Galamsey: ‘Challenge is prosecution, not arrest’ — Lands Minister
7 hours