SUBMISSION OF SELF-ASSESSMENT ESTIMATE FOR
2020 YEAR OF ASSESSMENT
The Commissioner-General of the Ghana Revenue Authority (GRA) wishes to bring to the attention of the general public particularly all Self-Assessed persons the following information on Annual Estimates under section 122(1), 2, and 5 of the Income Tax Act, 2015 (Act 896).
- A person shall submit to the Commissioner-General his annual tax estimate by the due date for the payment of the first tax instalment for the year. This means for example, that all persons whose basis periods start from 1st January to 31st December shall submit to the Commissioner-General their 2020 Year of Assessment Tax Estimate by 31st March, 2020.
- The Return shall indicate an estimate of the assessable income of the person for the 2020 Year of Assessment from each employment, business and investment and the source of that income.
- The estimate shall also indicate the chargeable income and the tax payable for that person for the 2020 Year of Assessment.
- The estimate submitted for the 2020 Year of Assessment remains in force for the whole year unless the person submits a revised estimate together with a statement of reasons for the revision.
- All taxpayers on self-assessment whose basis period start from 1st January to 31st December are therefore obliged and requested to submit their 2020 Year of Assessment estimate together with the payment for the first quarter for 2020 to the Commissioner-General by 31st March, 2020.
- Annual Estimate forms are available on the GRA website www.gra.gov.gh