GHANA REVENUE AUTHORITY(GRA) EXTENDS FILING DATE & WAIVE PENALTIES
GRA has responded to the disruptions to business by the Coronavirus and introduced measure to ease tax compliance.
The highlights of the measures are:
- Taxpayers who redeem all their outstanding debts due GRA by June 30, 2020, will be granted a remission of penalties on their principal debts.
- Donations and contributions toward fighting COVID-19 pandemic shall be: Allowed as deductible expense.
|Filing Self-Assessment Estimates||Due date for filing of Self-Assessment returns which was March 2020 has been extended to April 30, 2020.|
| Filing Annual Returns
· Company Income Tax (Cit)
· Personal Income Tax (Pit)
|Due date for filing is extended from 4 months to 6 months after the end of the basis year. Annual returns for the year ending December 2019 due in April, 2020 is extended to June 30, 2020.
Companies that can file returns before the extended date are encouraged to do so. These companies will be classified as compliant and will be eligible for early Tax Clearance Certificate and Withholding Tax Exemption Certificate.
|Annual Tax Filing Date||The month of June will be the Annual Tax Month for 2020 instead of April 2020.|
|Monthly Filings||Taxpayers are expected to file their monthly returns by the due dates using email addresses provided.|
|Paying Taxes||Taxpayers are encouraged to pay their taxes by Bank Transfers. Contact your local Tax Office for Bank details.|
|Waiver – Penalties||Taxpayers who pay all their outstanding tax liabilities by 30 June 2020 will be granted a waiver of penalties on their principal debts.|
|COVID-19 Contributions and Donations||Donations and contributions toward fighting COVID-19 pandemic shall be allowed as a deductible expense.|
|Vehicle Income Tax (VIT)||Due date for sale of VIT Stickers for the 2nd quarter has been extended by one month to 15 May 2020.|
This blog provides a summary of GRA notification, and please check the GRA Official Website for more details.