Author Archives: Tom Asaam

The COVID-19 Health Recovery Levy

On 31stMarch 2021, the president assented to the Covid-19 Health Recovery Levy Act, 2021 (Act 1068). This levy will become effective 1stMay 2021. The 2021 budget proposed a one percent (1%) Covid-19 Health Recovery Levy against the backdrop of spending emanating from the Covid-19 Pandemic. The Covid-19 Health Recovery Levy will be a stand-alone levy […]

Tax and Company Law Compliance for Startups

After business registration, most companies are not aware of their duty to comply with tax and company law requirements and end up with problems of non-compliance. I deal with: Clients who want to register businesses but have little or no knowledge about compliance requirements. Clients who have registered businesses and do not know the compliance […]

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 […]

2019 has ended! Are you prepared for taxes?

Early preparation is the best way to avoid tax trouble and reduce your taxes. This blog discusses the issues you must address as 2019 ends. So, what must you consider? Here’s a snapshot of the issues to ponder: Obtain Taxpayer Identification Number (TIN) for all your employees Withhold the appropriate taxes from all payments made […]

Personal Income Tax Returns: Know The Basics

Under Ghana tax laws, you must file a personal income tax return for each year of assessment. A year of assessment is the tax year in which you make the income. Read on to understand what a personal income tax return is, and what goes in, so you file personal income tax returns that are […]

The challenges of getting a Tax Clearance Certificate – My experience

You need a tax clearance certificate (TCC) for certain transactions. And sometimes, you need it in a hurry! We described some transactions you will need a tax clearance for, and the process for getting a tax clearance in our blog, “How to obtain a tax clearance certificate without any hassle.” I process a lot of […]