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Ghana government urged to intensify tax education

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TaxNii Ayi Aryeetey, the President of Chartered Institute of Taxation Ghana, has called on government to intensify its tax education drive for all companies and the public for easy understanding and compliance.

He commended the efforts of the Ghana Revenue Authority (GRA) in educating the masses on tax issues, but said there was more education to be done since some of the populace were still not abreast with the tax laws.

Mr Aryeetey, who was the former Deputy Commissioner of GRA in charge of Domestic Tax Revenue Division, made the call during a panel discussion in Accra on the Ghana Journalists Association’s programme dubbed, “Business Advocate” on Ghana Television.

The programme was supported by BUSAC Fund, DANIDA, the United States Agency for International Development and the European Union.

Mr Aryeetey, who spoke on the topic: “Prospects and Challenges on Taxation and Capital Injection’’, said it was incumbent on all and sundry to pay tax for the country’s development.

He said the Authority had introduced the new Income Tax Act, 2015 (896), because the old Act had outlived its usefulness and that the new Act focused on all sectors of the economy.

He said the changes in the new Act included capital allowance and tax holidays, saying private educational institutions that were exempted from paying taxes in the old Act were now to pay taxes.

Mr Aryeetey said the country had no law that taxes capital and that there was the need to expand the tax network and make the system of payment easy to ensure compliance.

He said honouring tax obligations would help to mobilise sufficient revenue to accelerate national development and that evading tax was not acceptable and constituted a crime against the state.

Mr Carl Nelson, Chief Operating Officer of Ghana Investment Promotion Centre said the Centre was established to encourage and promote investments and provide an enabling environment for investors in the country.

He said the Centre had had a good collaboration with its partners in ensuring that there was strict compliance with the country’s tax laws.

Mr Nico Van Staalduinen, the Executive Director of European Business Organisation Ghana, said the organisation was the first to be established in the country and in Africa to promote European businesses.

He said the organisation was active in accessing local market knowledge and in assisting European stakeholders in Ghana, as well as resolving trade barriers for European companies operating in the country.

He said his outfit had collaborated with the GRA in ensuring that its members complied with the country’s laws and tax related issues.

Source: GNA

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