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Company News from Wednesday, May 1, 2019
Source: 3news.com
2019-05-01
According to the GRA, voluntary compliance with taxes has not been encouraging.
The Ghana Revenue Authority (GRA) has issued a policy document intended to facilitate the effective prosecution of tax offenders.
This policy is expected to reduce the high rate of non-compliance with tax laws in the country by potential taxpayers, particularly in the informal sector.
According to the GRA, voluntary tax compliance has not been encouraging for people with incomes in the informal enterprise sector.
Although the GRA has recently stepped up its efforts to integrate more income-generating individuals into the tax net, some business owners are still finding ways to evade taxes.
The Authority hopes, however, that the prosecution policy document will empower staff to effectively combat non-compliance, tax evasion and customs fraud.
GRA acting chair Adelaide Adelaide Ahwireng said the era of tax non-compliance should be a thing of the past.
"The launch of GRA's prosecution policy reflects the fact that the AMF wants the public to know that the time when income earners blatantly escape the tax and free themselves will be now gone.
"I am pleased to say that GRA has declared zero tolerance for non-compliance, tax evasion and tax and customs fraud."
GRA General Commissioner Emmanuel Kofi Nti said that all income earners must fully comply with the tax laws.
He says the Authority will start using the lawsuits to deter tax evasion.
"I want to reiterate that GRA will now use litigation as an important tool to ensure that the public complies with tax laws. We encourage taxpayers to be aware of their obligations under tax law.
"Under this policy, prosecutions against taxpayers will be conducted in accordance with ethical and professional standards, transparency and accountability, in order to achieve the most effective and appropriate results."
The Ministry of Finance expects a difference in the voluntary tax compliance culture of taxpayers as a result of the launch of the prosecution policy.
"The Ministry of Finance unreservedly supports the GRA project in this venture because we believe that it will make a difference in our culture of paying taxes.
"It is necessary for the GRA to train its staff to ensure strict compliance with the Authority's prosecution procedures to achieve its objective," said Michael Ayensu, Director of Coordination at the Ministry of Finance.
Ashanti Region Minister Simon Osei Mensah urged the public to comply with the tax laws to avoid prosecution and inconvenience.
The GRA badured business owners that the pursuit policy was not a tool to harbad existing and potential taxpayers.
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