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
-
Keeping Ofori-Atta for 8 years was Akufo-Addo’s worst decision – Winston Amoah
18 minutes -
Whose security? whose interest?: U.S. military action, Nigeria’s internal failure, and the dynamics of ECOWAS in West Africa
27 minutes -
Abuakwa South MP names baby of 13-year-old teenage mother after First Lady
37 minutes -
Police thwart robbery attempt at Afienya-Mataheko, 4 suspects dead
57 minutes -
Don’t lower the bar because things were worse before – Kojo Yankson on Mahama gov’t
2 hours -
Jefferson Sackey rallies support for Dr. Bawumia
2 hours -
2024 elections helped stabilise Ghana’s democracy – Sulemana Braimah
2 hours -
Livestream: 2025 Year in Review
3 hours -
Ghana’s crypto transactions hit $10bn by November – SEC
3 hours -
SEC says VASP law will protect investors, ensure market integrity
3 hours -
Mandatory Smart Port note will increase cost of doing business – Coalition of exporters, importers and traders
3 hours -
Banda MP hands over police station, quarters to Banda Boase community
3 hours -
I’m going to spend a lot more energy to make Kumasi clean – KMA boss
3 hours -
We’re on a journey together to restore our party to its rightful place – Dr. Bawumia to NPP delegates
3 hours -
Thieves use drill to steal €30m in German bank heist
3 hours
