- The Ghana Revenue Authority (GRA) has informed businesses now applying for TINs that they will pay taxes
- This comes after it was realized that thousands of business owners are trying to access the GHC1 stimulus package announced by the government
- The GRA explained that taxes are needed to develop the nation
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The Ghana Revenue Authority (GRA) has hinted that businesses applying for Tax Identification Numbers (TINs) now in order to access the GHC1 billion stimulus package offered by the government will pay taxes.
This followed reports that several people had besieged the GRA offices in the Volta Region in order to get their TINs.
The TIN is one of the requirements needed before business owners can access the fund set aside by the government for Micro, Small and Medium-scale Enterprises (MSMEs).
READ ALSO: COVID-19 is no excuse to avoid taxes - GRA
It helps the GRA identify businesses and target them for the purposes of collecting tax.
Per a report by citibusinessnews.com, the Assistant Commissioner at the Medium Scale Taxpayers’ Office at the GRA in the Volta Region, Kwame Owusu Bamfo, says the businesses seeking to benefit from the COVID-19 relief package should be ready to pay taxes.
“…In due course, we will be assessing you to pay tax because, without tax, the nation cannot develop. This is a requirement, even in the Bible, Romans chapter 13 asks us to pay tax to the authorities,” he noted.
YEN.com.gh understands that so far, over 14,000 business owners have applied for the stimulus package.
YEN.com.gh earlier reported that President Akufo-Addo indicated that the government has set aside a GHC1 billion package to support businesses in Ghana.
According to him, the decision is intended to help businesses continue operations as the coronavirus takes a toll on the economy.
He indicated that the package, dubbed the Coronavirus Alleviation Programme (CAP), will attempt to revive industries in Ghana affected by the COVID-19 outbreak.
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