Gov’t to establish independent tax appeals board; set to cost about GHc2.5 million
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Gov’t to establish independent tax appeals board; set to cost about GHc2.5 million

- The government has initiated plans to form a tax appeals board to serve as a mediator between the Ghana Revenue Authority and the taxpayer

- The bill was laid before Parliament on Thursday, 30 April 2020, by deputy Minister of Finance, Abena Osei-Asare

- The formation of the board is expected to cost the government GHc2.5 million

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A bill to aid the establishment of an independent tax appeals board has been laid before Parliament.

The board will be tasked with the responsibility of increasing the mobilisation of revenue for the government.

It would also be responsible for resolving disputes between the Ghana Revenue Authority (GRA) and the taxpayer.

READ ALSO: African Development Bank issues warning to African countries over borrowed funds

According to a report by classfmonline.com, a bill was laid on the floor of Parliament on Thursday, 30 April 2020, by deputy Minister of Finance, Abena Osei-Asare.

Also known as the Revenue Administration (Amendment) Bill, it will hear and determine appeals against tax decisions made by the Commissioner-General.

The bill will also make provision for the payment of shortfalls in tax liabilities which result from omissions.

Gov’t to establish independent tax appeals board; set to cost about GHc2.5 million

Minister of Finance, Ken Ofori-Atta Source: Starrfm.com.gh
Source: UGC

The bill is expected to demand the submission of Tax Clearance Certificates (TCCs) without the payment of a penalty by subcontractors with respect to government contracts.

According to the Chairman of Parliament’s Finance Committee, Dr. Mark Assibey, the board will increase investor confidence and reduce litigations.

The board would be set up at a cost of GHc2.5 million to the government.

In other news, the 2020 Tax Transparency report has concluded that Africa is gradually eliminating tax evasion and money laundering.

The report shows that Africa has taken important steps to strengthen commitments and capacities.

It also showed that this would help achieve transparency and provide information on the illicit flow of funds.

READ ALSO: Models of VWs outdoored in Ghana; prices as low as GHc60,000

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Source: Yen

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