The Ghana Revenue Authority (GRA) is calling on Ghanaians who earn income abroad to voluntarily declare their earnings and fulfill their tax obligations. This initiative is part of efforts to increase tax revenue and offset the revenue gap created by the removal of Value Added Tax (VAT) on electricity.
Speaking on the Citi Breakfast Show, Felicia Omotayo Owusu from the GRA’s Domestic Tax Revenue Division highlighted the procedures for the new tax initiative as outlined in the amended Revenue Administration Act (Section 74). She emphasized the importance of voluntary compliance, explaining that individuals who voluntarily disclose their income from the previous year and pay the necessary taxes will have penalties waived.
Dr. Martin Yamborigya Kolbil, Assistant Commissioner for Audit at the Large Taxpayer Office, provided further details on the tax crediting process. He stressed the need for employees to provide their Ghana card numbers to their employers to ensure accurate tax deductions.
Kolbil clarified, “For you to be credited, you need to provide your employer with your tin, which is your Ghana card number, and then the system will automatically credit whatever tax your employer deducted on your behalf. So, if you go to your ledger now, you will have seen your payment provided you have your tin with the revenue authority.”
This initiative by the GRA is aimed at ensuring that all individuals, including those earning income abroad, contribute their fair share to national development through tax payments. By voluntarily declaring their earnings and paying taxes, Ghanaians can help boost the country’s tax revenue and support essential services and infrastructure projects.
