Search results
Results from the WOW.Com Content Network
[3] [4] He made this known in the 2022 budget statement and economic policy that was read in the parliament of Ghana. [5] 1.75% is the rate of the E-levy which the Government decided to apply on all transactions. [1] [6] [7] [8] Ken Ofori-Atta said it could raise about $1.15billion which will widen the tax net. [9]
The goal was to streamline training of tax practitioners in the country. He noted the importance of such training, and said the law would eventually require that all tax practitioners had gone through a full course in taxation. [4] The CITG conducts examinations twice a year. In 2011 it was undertaking a major review of the syllabus.
The Ghana Revenue Authority (GRA) is the Ghana administration charged with the task of assessing, collecting and accounting for tax revenue in Ghana. [1] [2]As part of efforts to improve compliance, the Authority is required to assist taxpayers to understand and meet their tax obligations by providing robust and comprehensive advice.
Value-added tax is a consumption tax administered in Ghana. The tax regime that started in 1998 had a single rate but since September 2007 entered into a multiple rate regime. In 1998, the rate of tax was 10% and amended in 2000 to 12.5%. The top income tax and corporate tax rates are 25%.
The Internal Revenue Service of Ghana is the Government of Ghana agency responsible for the mobilization of tax for the government. [ 1 ] It was merged to the Ghana Revenue Authority as a result of the Ghana Revenue Authority Act of 2009.
In Ghana, businesses that are registered with the GFZA are subject to 1% income tax during the first ten (10) years of operation and 15% tax thereafter. [8] A company operating in a free zone must export at least seventy percent (70%) of its annual output. Additionally, no more than 30% of total annual output may be sold to the local market.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
It was established in Ghana by Ghana Education Trust Fund Act, 2000, Act 581. The GETFund is financed with 2.5% of the value-added tax or VAT and has to provide special financial support to public educational institutions under the Ministry of Education for development and maintenance of academic facilities. [1] [2] [3]