Audio By Carbonatix
The Ghana Revenue Authority it appears is taking full advantage of the yuletide and the numerous gifts that are exchanged to urge compliance to the gift tax.
The tax law requires citizens to pay tax on gifts worth 50 Ghana cedis and more.
This law, as far as the GRA is concerned should apply to the traditional gift baskets also known as hampers and so what better time to preach compliance than Christmas, the best hamper season.
According to the GRA, the gifts must be declared to the commissioner within 30 days upon receipt for 5 percent taxation.
Acting Head of Operations for the Domestic Division, James Anaman, however explained gifts from relations and for religious and charitable organisations are tax-exempt.
Source: Joy News/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
-
Angry Tema Community 25 residents threaten to sleep at GWL over water shortage
8 minutes -
BoG takes financial literacy drive to Techiman, vows to protect depositors
8 minutes -
‘Stop the distractions’ – Akosua Manu demands answers over GH¢49.7m South Africa evacuation cost
8 minutes -
Formula 1 to return to Africa with Rwanda Grand Prix in early 2030s
15 minutes -
Mahama says Ghana is safer today as he commissions 85-bed ward at Police Hospital
20 minutes -
LA 2028: Black Queens face Zambia in final Olympic qualifier
28 minutes -
WAFU Zone B: Black Starlets seal semifinal place with 3-1 win over Benin
35 minutes -
Black Queens thrash Mauritius 7-0 to advance 10-0 on aggregate in Olympic Qualifiers
44 minutes -
Kaizen as a strategic pathway for micro business scale-up in Ghana
48 minutes -
Minister orders suspension of Obuasi SHS headmaster over alleged sexual misconduct following JoyNews investigation
52 minutes -
Over 38,000 commercial, 150,000 residential customers unbilled – Ghana Water MD
1 hour -
Several injured as Sprinter bus collides with ‘trotro’ at Odorkor
1 hour -
Ghana records progress on reparatory justice agenda – Ablakwa
2 hours -
Mahama commissions Christian Tetteh Yohuno Ward Complex at Police Hospital
2 hours -
Vice President calls for wider access to Ghana’s political party histories
2 hours