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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
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