The Ghana Revenue Authority (GRA) is urging Ghanaians to make it a priority to fill their annual tax returns before the month of April 2023.
GRA as part of its attempts to increase revenue mobilization and tax awareness in Ghana has declared the month of April annually as a Tax and good governance month.
According to GRA, the Tax, and Good Governance Month celebration is key to intensifying awareness among individuals and organizations on the significance of filing returns, payment of taxes, and fulfillment of other tax obligations to the state for accelerated socio-economic development.
In an exclusive interview with ATLFMNEWS, an officer at Cape Coast North Branch of Ghana Revenue Authority, Mr. John Quaicoe said it is required of every individual and organization to declare their annual returns to the GRA.
He explained the filing of annual returns is not optional but the law makes it mandatory for everyone, organizations, and corporations which is said to earn income to file an annual return.
“When we say tax return filing, it is simply bringing a document to GRA to tell GRA that these are all my incomes. If I have a business, this is what happened as far as financials are concerned. If I’m an employee, these are all the salaries I got, these are the allowances I got. So we are just simply declaring to Ghana revenue authority and the government that these are my earnings, the deductions I did and this is the chargeable income or the profit that you should charge me tax. This is the tax I’m supposed to pay and how much I have paid.”
“Some people don’t necessarily even earn income, but they engage in business transactions. They are also required to file annual returns with the authority” he added.
He notes that the filling of returns helps individuals and organizations to accurately calculate the annual tax payable and also facilitates the easy application of any assistance in the form of a tax clearance certificate from the authority.
“So once the returns are accurately filed, the task clearance can easily, easily be given to you at any time. The first thing is that you must have a record of your income and your expenses because the return will ask for specific information” he continued.
GRA notes that failure to file tax returns may result in the Commissioner General determining the taxes for such businesses.
On his part, the Head, of Tax Payer Services, Mr. Raymond Gyasi Agyen added that several activities have been enrolled by the GRA including tax awareness education, and tax clinic among others all aimed at gracing the celebration.
He however urged that employees provide their employers with accurate information, especially with National Identification card details to avoid errors in filing tax returns.
The GRA will from today Tuesday, April 25 to Friday, April 28 set up a Tax Clinic at Abura Market in Cape Coast North Constituency to address individual issues regarding taxes.
Read more stories here
Source: Eric Sekyi/ATLFMNEWS
