PAYMENT OF WITHHOLDING TAXES – JANUARY, 2020
ALL WITHHOLDING TAX AGENTS TO NOTE
The Ghana Revenue Authority (GRA) wishes to remind all withholding tax agents including VAT withholding agents appointed by the Commissioner-General 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 for January, 2020 will therefore be due by 15th February, 2020.
Withholding taxes including withholding on VAT deducted from:
- Suppliers operating the VAT Standard Rate Scheme (12.5%)
- 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 January, 2020 are due by 15th February, 2020.
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.
AS 15TH FEBRUARY, 2020 FALLS ON A WEEKEND, PAYMENT OF WITHHOLDING TAXES MUST BE RECEIVED AT THE TAX OFFICE BY 12 NOON, FRIDAY, 14TH FEBRUARY, 2020.