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Items filtered by date: May 2018

APPOINTMENT OF VALUE ADDED TAX WITHHOLDING AGENTS.

The Ghana Revenue Authority (GRA) wishes to inform the general public that to improve Value Added Tax (VAT) compliance and in accordance with the Value Added Tax (Amendment) (No. 2), 2017 (Act 954), the Commissioner-General has appointed the under-listed entities as Value Added Tax Withholding Agents for GRA with effect from Tuesday, 1st May, 2018. 

The duties of the Value Added Tax Withholding Agents are:

a)Withhold from the payment to a registered Value Added trader seven percent (7%) of the taxable output value of standard rated supplies.

b)Issue a Withholding Value Added Tax Credit Certificate in the form   prescribed by the Commissioner-General to the Supplier

c)Submit Withholding VAT Returns and pay the VAT withheld to the Commissioner-General for the period not later than the 15th day of the month immediately following the month to which the returns relate.

 

In effect suppliers of both goods and services to these entities will receive 10½% of the VAT on their taxable transactions while the entities (Withholding Agents) account for 7% directly to GRA.  This arrangement applies only to transactions with the Appointed VAT Withholding Agents.  Entities who are not appointed VAT Withholding Agents are not required to withhold, and therefore are to pay the full amount of VAT to their suppliers.

Suppliers will continue to account for output VAT at 17½% on all taxable transactions and take credit of all allowable input taxes.  The input taxes should include VAT withheld by the Appointed VAT Withholding Agents with their VAT Withholding Certificates issued to them as supporting evidence.

 

FINANCIAL INSTITUTIONS                               PETROLEUM SUB-CONTRACTORS      

NO.

NAME OF TAXPAYER AGENT

 

NO.

NAME OF TAXPAYER AGENT

1

BANK OF AFRICA

 

1

DREDGING INT. SERVICES

2

BANK OF BARODA GH.

 

2

BAKER HUGHES LIMITED

3

BARCLAYS BANK LTD.

 

3

WEATHERFORD GHANA LIMITED

4

CAL BANK

 

4

HALLIBURTON INT. INCORPORATION

5

ECOBANK GHANA

 

5

SCHLUMBERGER SEACO LIMITED

6

ENERGY BANK GHANA

 

6

MODEC GHANA LIMITED

7

FIDELITY BANK LIMITED

 

7

HESS GHANA EXPLORATION LIMITED

8

FIRST ATLANTIC BANK LTD.

 

8

NOV GHANA LIMITED

9

GHANA COMMERCIAL BANK

 

9

TETRA NETHERLANDS BV

10

GUARANTY TRUST BANK

 

10

UNITED STORAGE

11

HFC BANK GHANA LIMITED

 

11

OCEAN RIG GHANA LIMITED

12

NATIONAL INVESTMENT BANK

 

12

MAERSK DRILLING SERVICES

13

PRUDENTIAL BANK

 

13

GULF OFFSHORE

14

ROYAL BANK

 

14

TECHNIP OFFSHORE UK LIMITED

15

STANBIC BANK

 

15

FMC TECHNOLOGIES

16

STANDARD CHARTERED BANK

 

16

EXPRO GULF LIMITED

17

SOCIETE GENERALE GHANA

 

17

DOMINION OIL FIELDS

18

UNITED BANK FOR AFRICA

 

18

CANYON OFFSHORE

19

UNIVERSAL MERCHANT BANK

 

19

BURBON OFFSHORE

20

ZENITH BANK GHANA LTD.

 

20

BRISTOW HELICOPTER

21

UNIBANK GHANA

 

21

BULKSHIP AND TRADE

22

ACCESS BANK

 

22

MI HOLDINGS (BVI) LIMITED

23

AGRICULTURAL DEVELOPMENT BANK

 

23

SIEM OFFSHORE AS GHANA

24

SAHEL SAHARA

 

24

SRI   EMAS LIMITED

25

FIRST NATIONAL BANK

   

TELECOMMUNICATION

26

SOCIAL SECURITY & NATIONAL INSUTRANCE TRUST (SSNIT)

 

NO.

NAME OF TAXPAYER AGENT

27

SIC INSURANCE CO. LTD.

 

1

SCANCOM

28

BANK OF GHANA

 

2

VODAFONE GHANA

29

FIRST NATIONAL BANK

 

3

MILLICOM / AIRTEL

 

MINING SECTOR                                                      GOVERNMENT INSTITUTIONS

NO.

NAME OF TAXPAYER AGENT

 

NO.

NAME OF TAXPAYER AGENT

1

ABOSSO GOLDFIELDS  LIMITED

 

1

CONTROLLER & ACCOUNTANT GENERAL DEPARTMENT

2

ADAMUS RESOURCES GHANA

 

2

MINISTRY OF ROADS

3

ANGLOGOLD ASHANTI (IDUAPRIEM)

 

3

URBAN ROADS DEPARTMENT

4

ANGLOGOLD ASHANTI (OBUASI)

 

4

MINISTRY OF HEALTH

5

CHIRANO GOLD MINES

 

5

MINISTRY OF EDUCATION

6

GHANA BAUXITE COMPANY

 

6

MINISTRY OF WORKS & HOUSING

7

GHANA MANGANESE COMPANY

 

7

MINISTRY OF INTERIOR

8

GOLDEN STAR (WASSA) LIMITED

 

8

MINISTRY OF LOCAL GOVENMENT

9

GOLDEN STAR BOGOSO/PRESTEA

 

9

GHANA REVENUE AUTHORITY

10

GOLDFIELDS GHANA LIMITED (TARKWA)

 

10

GHANA EDUCATION SERVICE

11

MED MINING

 

11

GHANA HEALTH SERVICE

12

NEWMONT GHANA GOLD

 

12

FEEDER ROADS

13

NEWMONT GOLDEN RIDGE

 

13

MINISTRY OF FINANCE

14

NOBLE GOLD BIBIANI LIMITED

 

14

COCOBOD

15

PERSEUS MINING (GH) LIMITED

 

15

NATIONAL COMMUNICATIONS AUTHORITY

16

ASANKO GOLD GHANA LIMITED

 

16

ELECTORAL COMMISSION

17

AFRICAN MINING SERVICES

 

17

GHANA PORTS & HARBOUR

 

MANUFACTURERS

 

18

UNIVERSITY OF GHANA

NO.

NAME OF TAXPAYER AGENT

 

19

UNIVERSITY OF PROFESSIONAL STUDIES

1

UNILEVER GHANA

 

20

KWAME NKRUMAH UNIVERSITY OF SCIENCE & TECHNOLOGY

2

NESTLE GHANA LIMITED

 

21

UNIVERSITY OF CAPE COAST

3

GHACEM LIMITED

 

22

KORLE-BU TEACHING HOSPITAL

4

WILMAR AFRICAN LIMITED

 

23

KOMFO ANOKYE TEACHING HOSPITAL

5

GUINNESS GHANA BREWERIES

 

24

RIDGE HOSPITAL (ACCRA REGIONAL HOSPITAL

6

KAYSEN GAISIE LIMITED

 

25

TEMA GENERAL HOSPITAL

7

ACCRA BREWERY LIMITED

 

26

ACCRA TECHNICAL UNIVERSITY

8

FAN MILK

 

27

KUMASI TECHNICAL UNIVERSITY

 

 

 

28

TAKORADI  TECHNICAL UNIVERSITY

 

OTHERS

 

29

CAPE COAST TECHNICAL UNIVSERITY

1

MERIDIAN PORT SERVICES

 

30

GIMPA

 

 

 

31

VOLTA RIVER AUTHORITY

 

GOVERNMENT INSTITUTIONS

 

32

NATIONAL IDENTIFICATION AUTHORITY

35

MINISTRY OF DEFENCE

 

33

PARLIAMENT OF GHANA

36

UNIVERSITY OF DEVELOPMENT STUDIES

 

34

DRIVER AND VEHICLE LICENSING AUTHORITY

 

COMMISSIONER-GENERAL

#OurTaxesOurFuture

Visit our website: www.gra.gov.gh

 

 

FILING OF VALUE ADDED TAX (VAT)/

NATIONAL HEALTH INSURANCE LEVY (NHIL) & 

COMMUNICATIONS SERVICE TAX (CST) RETURNS

FOR APRIL 2018 

 

GHANA REVENUE AUTHORITY (GRA) REMINDS ALL VAT REGISTERED PERSONS THAT VAT/NHIL AND COMMUNICATIONS SERVICE TAX (CST) RETURNS FOR APRIL 2018 SHOULD BE SUBMITTED ON THE VAT/NHIL AND CST RETURNS FORMS NOT LATER THAN THURSDAY, 31ST MAY, 2018 WHICH IS THE LAST WORKING DAY OF THE MONTH.

 FILE YOUR VAT/NHIL & CST RETURNS EARLY AND AVOID PAYMENT OF PENALTIES.  FOR VAT/NHIL THE PENALTY IS FIVE HUNDRED GHANA CEDIS (GH¢500.00) AND A FURTHER PENALTY OF TEN GHANA CEDIS (GH¢10.00) PER DAY EACH DAY THE RETURN IS NOT SUBMITTED.

 FOR CST OPERATORS, LATE FILING OF RETURNS ATTRACTS A PECUNIARY PENALTY OF TWO THOUSAND GHANA CEDIS (GH¢2,000) AND A FURTHER PENALTY OF FIVE HUNDRED GHANA CEDIS (GH¢500.00) FOR EACH DAY THE RETURN IS NOT SUBMITTED.

 REMEMBER TO SUBMIT THE APRIL 2018 RETURNS FORMS NOT LATER THAN THURSDAY, 31ST MAY, 2018 WHICH IS THE LAST WORKING DAY OF THE MONTH AND AVOID PAYING PENALTIES. 

 FOR FURTHER INFORMATION, PLEASE CONTACT THE NEAREST DOMESTIC TAX REVENUE DIVISION OFFICE. 

COMMISSIONER-GENERAL

#OurTaxesOurFuture

 

 

PAYMENT OF WITHHOLDING TAXES – APRIL, 2018

ALL WITHHOLDING TAX AGENTS TO NOTE

The Commissioner-General of the Ghana Revenue Authority (GRA) wishes to remind all withholding tax agents that withholding taxes must be paid to the Domestic Tax Revenue Division (DTRD) of the Ghana Revenue Authority (GRA) by the 15th of every month.

Withholding taxes deducted from: 

• employment, 

• payment for the supply or use of goods, 

• payment for the supply of any works 

• payment for the supply of services and all other withheld taxes for April, 2018 are due by 15th May, 2018. 

Pay all withheld taxes on due dates.  All payments should be made with an accompanying schedule, in both hard and soft copies, indicating gross amount, the tax deducted and name(s) of taxpayer(s) from whom the taxes were withheld. 

Please note that failure to pay tax on due date attracts an interest of 125% of the statutory rate, compounded monthly on the outstanding tax.

COMMISSIONER-GENERAL

Visit our website: www.gra.gov.gh

#OurTaxesOurFuture

 

The Ghana Revenue Authority (GRA) which is under the Ministry of Finance is responsible for the collection, protection and accounting for tax revenue on goods and services.

 Over the years, considerable revenue has been lost through illicit trade. Illegal operators within Ghana smuggle tobacco, spirits and other alcoholic beverages into the country as well as indulge in the sale of counterfeited products. What is more, the under declaration of quantities of these goods, both imported and locally produced, has led to significant loss of revenue. Goods in transit, particularly cigarettes which are often diverted or smuggled back into the country and sold on the market are difficult to detect.

 These illegal activities cause significant revenue loss to Government and also put legitimate brand owners and businesses at a competitive disadvantage. 

 Further, the counterfeited products are extremely dangerous to consumers as these goods are typically of much lower quality and may contain poisonous constituents which adversely affect the health of consumers. 

 These developments have necessitated various measures for improving current inspection, verification and monitoring procedures towards increasing revenue as well as address the other issues raised.

 The use of digital tax stamps on selected excisable products (i.e. cigarettes and alcoholic beverages), has been identified as an effective means of addressing these challenges.


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Contact Us

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Tel: +233- (0) 302 904545

or

Tel 2: +233- (0) 302 904546

 

 

 

 

 

 

 

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