GRA sensitizes taxpayers in Koforidua

Revenue AuthorityGhana Revenue Authority (GRA) has held a day’s seminar to sensitize its clients in the Eastern Region on developments in the GRA as part of its educational campaign and strategy to educate the taxpayer to promote voluntary compliance

The seminar aimed at educating taxpayers on all that the Medium Tax Office (MTO) concept is about and also to clarify all doubts in the minds of the taxpayer about the integration of the Revenue Agencies in general and the MTO concept in particular.

It was also aimed at getting taxpayers better informed about the new changes and well prepared to partner the GRA in its tax mobilization and collection effort.

Mr Benjamin Tekpor, Head of MTO, Koforidua, said all taxpayers classified under the MTO were required to meet their responsibilities under the law.

These include register to pay taxes, maintenance of good records, submission of returns by due dates, payment of all taxes due and easy access of records for examination.

Mr Tekpor mentioned benefits taxpayers would derive from the MTOs to include improved service delivery, reduced tax compliance costs, better service delivery and a common source for tax procedures.

He said to enable them to enjoy the benefits and privileges of being a medium taxpayer and in line with best practice of modern tax administration, they are required to register or re-register for the new Taxpayer Identification Number (TIN).

Mr Tekpor also told the participants that to be able to enjoy benefits and privileges as medium Taxpayers, they needed to keep good and reliable records which would help them to file returns by due date.

“Under the direct taxes, medium taxpayers are required to have clear records, record all earnings, record all day to day expenses, record all capital expenditure, record staff wages and to file all tax returns including accounts by due date and the returns should be accurate”.

Mr Tekpor said companies were expected to file their returns four months after the accounting period, while self-employed are to file by April 30 every year.

Mr Richard Ajago, Head of Tax Payer Service (TPS), said in pursuit of best practice in tax administration, the GRA which came into being through an Act of Parliament in December 2009, (ACT 791) was modernizing and integrating all domestic tax procedures and processes for efficient use of resources.

“The modernization is also aimed at providing taxpayer services that meet the particular needs of taxpayers in the country.”

He said the reform involved the segmentation of domestic taxpayers into large, medium and small taxpayers based on their annual turnover. Taxpayers with an annual turnover of over GH¢5 million are classified as large taxpayers.

Taxpayers within the turnover bracket of GH¢90,000 up to GH¢5 million are categorized as medium taxpayers while those with an annual turnover of less than GH¢90,000 are classified as small taxpayers.

Source: GNA

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