File tax returns to enjoy benefits

The Senior Revenue Officer of the Kinbu District Office of the Ghana Revenue Authority(GRA), Mr Gabriel Gaanu, says there are many benefits to taxpayers when tax returns are done on time.

He said this would helped taxpayers to avoid the payment of various degrees of penalties from the Authority.

Mr Gaanu was speaking at a day’s tax education forum organised by the GRA for stakeholders in Accra.

He said filing of tax returns was mandatory and it helps to broaden the tax net, reduced tax compliance and helped GRA to update its records on taxpayers.

"If taxpayers fail to issue a Value Added Tax (VAT) invoice, they are fined 100 penalty units or serve six months prison term or both," he added.

He said any taxpayer who filed his/her tax returns on time would have the opportunity to access their tax review and also speeded up the taxpayer’s application for tax refund from the authority.

The District Manager of the Kinbu District Office of GRA, Mrs Vivian Kafui Danku, said the forum was to encourage voluntary compliance with tax payment and also the GRA wanted to establish taxpayer and tax administrator relationship.

She said the forum was also to update taxpayers’ knowledge of current trends in tax administration of the country.

She said for a company to be relieved from the payment of indirect tax, it needed to apply to the commissioner.

Under the new automated systems being implemented for the GRA and the Registrar General’s Department, taxpayers at the GRA

Domestic Tax Revenue Division offices and VAT Offices must re-register to facilitate the use of the new software systems.

The authority has called on businesses to re-register as taxpayers to enable the authority to capture credible data to enhance revenue administration.