To achieve optimal tax outcomes and meet its financial requirements, you must prepare for the tax season. The extent of preparation depends on the business. With careful planning and attention to detail, you can meet the deadlines and get through the tax season with confidence. These tips are for SMEs (Small and Medium sized Enterprises) […]
Category Archives: Tax
01
Apr
Apr
Perhaps, The Ghana Revenue Authority (GRA) has audited you and hit you with an unexpected assessment. Or you have heard of other companies that GRA has audited and hit with surprising tax bills. The risk that GRA may hit you with an unforeseen tax is now a major concern for Ghanaian businesses. It is not […]
16
Nov
Nov
The Ghana Revenue Authority (GRA) taxpayer portal is a work in progress. GRA often adds or changes features of the portal without adequate education and information. You often get to know of the changes when using the portal. At SCG, we are heavy users of the taxpayer portal, so we learn from our experiences. To […]
03
Aug
Aug
Part one of this article focused on common issues that arise from the VAT Tax Audits by the Ghana Revenue Authority (GRA). In the final part of the article, we discuss the taxpayers’ difficulties in complying with the Ghana VAT Law and recommend ways to deal with the difficulties. Challenges faced by taxpayers. Paying taxes […]
20
Jul
Jul
The Ghana Revenue Authority uses tax audits to ensure compliance and to increase tax revenue. It carries out both comprehensive and desk audits. The GRA’s approach is to focus its audit efforts on high-risk areas where the risk of noncompliance is high. VAT is one of the high-risk areas in their scope. In this article, […]
20
Jun
Jun
Introduction In April 2023, the government of Ghana passed 3 amendments to the tax laws. Act 1094 to amend the Income Tax Act 2015 (Act 896). Act 1093 amends the Excise Duty Act 2014 (Act 878), and Act 1095 introduces the Growth and Sustainability Levy. The amendments are effective from 1st May 2023. Outlined below […]
01
Jun
Jun
Before you close your financial books for the year, you must make sure that you filed all returns and paid all taxes due during the year. This could save you significant penalties. We’ve prepared this checklist to help you check your compliance and reduce the risk of incurring undue penalties. Do you have employees who […]
28
Apr
Apr
This blog answers common questions that people ask about tax audits. 1. What is a tax audit? A tax audit is an examination of a taxpayer’s financial records and tax returns by the GRA to ensure that the taxpayer has accurately reported their income, deductions, and credits and complied with tax laws and regulations. 2. […]
10
Mar
Mar
A Tax Clearance Certificate (TCC) confirms a taxpayer has paid his taxes or has agreed on a payment plan with the Ghana Revenue Authority (GRA) at the date of application. To remove the hassle from getting a TCC, GRA has moved from issuing physical TCC to issuing Electronic Tax Clearance Certificates (E-TCC). You can now apply for and […]
13
Feb
Feb
Highlights of assented tax policies from 2023 Budget Statement. The government of Ghana outlined tax policy measures in the 2023 Budget statement. The proposed policy was brought into effect when the Parliament of Ghana assented Value Added Tax (Amendment) (N0 2) Act 2022 (Act 1087) and Electronic Transfer Levy (Amendment) Act 2022 (Act 1089). In […]
