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Amendments of Tax Laws

January 7, 2023
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GRA⋅Domestic Tax⋅Amendments of Tax Laws

Amendments of Tax Laws

The Ghana Revenue Authority (GRA) announces for the information of the general public the coming into force of the amendments of the following tax Laws;

What is the Penalty and Interest Waiver Act 2021 (Act 1065)?

The Electronic Transfer Levy (Amendment) Act 2022 (Act 1089)

  1. The rate of the Electronic Transfer Levy (E-Levy) has been reduced to 1% on electronic transfers chargeable under the Act.
  2. The Commissioner-General will determine the manner, time and place for the filing of E-levy returns
  3. The levy charged is to be remitted to the Commissioner-General within 24 hours after charging the amount
  4. For a person to qualify as an agent under the Act, the person must be registered with the GRA.

Revenue Administration (Amendment) Act, 2022 (Act 1086)

  1. The Act gives power to the Commissioner-General to establish a monitoring mechanism to verify the actual revenue collected by a taxpayer for the purpose of computing taxes due
  2. It provides a penalty of 5% of annual gross revenue in addition to other penalties under the Act of a person who refuses to permit the Commissioner-General or a tax officer physical access to the physical network node or infrastructure or system of that person
  3. This amendment supersedes other provisions in other enactments relating to confidentiality, privilege or the public interest with respect to the production of or access to a document
  4. The Act further requires a person who realizes an asset or a liability to submit a separate return

The Value Added Tax, (Amendment) No. 2 Act, 2022 (Act 1087)

  1. An increase in Value Added Tax (VAT) rate from 12.5% to 15%
  2. Review of the transitional provisions to permit the Commissioner-General to determine when a taxable person should use the Certified Invoicing System (E-VAT).
  3. It also provides additional administrative penalties for non-compliance.
  4. To remove Betting, Gaming and other games of chance out of the scope of VAT
  5. The removal of exemption from VAT on imported textbooks, imported newspapers, architectural plans and similar plans, drawings, scientific and technical works, periodicals, magazines, trade catalogues, price lists, greeting cards, almanacs, calendars, diaries and stationery and other printed matter.
Note

The effective date of implementation of all amendments is January 1, 2023.

The general public, particularly VAT Registered persons, Employers, Accountants, Auditors, Importers, Exporters, Clearing Agents and Tax Consultants must take note of these amendments and comply accordingly.

The GRA can be reached on Toll free on 0800-100-110 or WhatsApp on 0552990000 / 0200631664. You may also visit any of our Taxpayer Service Centres (TSCs) across the country for assistance.

Click here to download the Value Added Tax (Amendment) No. 2 ACT, 2022 (ACT 1087)

Click here to download the Revenue Administration (Amendment) ACT, 2022 (ACT 1086)

Click here to download the Electronic Transfer Levy (Amendment) ACT 2022 (ACT 1089)

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