Beatrice Nyawuto, the Principal Revenue Officer at the Debt Management Compliance and Enforcement unit of the Ghana Revenue Authority (GRA), has urged Ghanaian creatives to register with them.
Speaking on Showbiz A-Z on Joy 99.7 FM, Beatrice said that there are benefits that come with registering one’s company with the GRA.
She said the individuals would have to physically go to the GRA office, go through an interview and fill a form to start the process.
"We will register you for all the types of taxes available when you come," she noted.
Beatrice, highlighting the benefits of registering one’s company with the Ghana Revenue Authority, said “you have to register to enjoy this benefit. When you register with GRA, the withholding tax credit certificate that you get, you use it to offset whatever taxes you are assessed in the office."
"Assuming you assessed GHS 10,000 for the year and you have withholdings about GHS 12,000, it means you have overpaid by 2,000 and that becomes a credit sitting on your file for liability that comes the following year, she further noted.
In her response to concerns about taxes on complementary tickets and the request to give tax holiday to fledgling entertainment companies, she said the stakeholders of the creative industry should collectively present a petition to Cmmissioner General of the GRA in this regard.
Some creatives including playwright Chief Moomen and event organiser Kojo Poku made a call on the government to find ways of mitigating the effect of taxes on event companies that are struggling to find their feet.
According to Kojo Poku, the Chief Executive Officer (CEO) of event company Big Ideaz Consult, “It is a way of getting people interested in our events. Most of our complimentary tickets go to friends and families and potential sponsors. Because if a client has not seen a Night with the Stars before and you want them to come and see and potentially sponsor in the future, the only way is to let them come and experience the event. You cannot ask them to buy the ticket.”
Kojo Poku also added that some of these challenges are the reasons a lot of entertainment event companies are not able thrive in the industry.
Watch the discussion on TAXATION IN THE CREATIVE INDUSTRY on Showbiz A-Z below:
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