The Ghana Revenue Authority (GRA) yesterday held a seminar in Cape Coast for tax Payers to develop their understanding of the new income tax.
The programme was on the theme “Enhancing Voluntary Tax Compliance for Nation Building”.
The seminar was in line with GRA's desire to enhance education on the new Tax Law to ensure compliance and to work together with stakeholders for effective implementation.
The head of Compliance Enforcement and Debt Management at the Cape Coast Medium Taxpayer office, Mr. James Aggrey, speaking to ATL FM NEWS said the seminar was to educate tax payers on the need to pay their taxes voluntarily to support government to achieve the “Ghana beyond Aid” agenda.
“The tax stamp is basically an act of Parliament which has come as one of the tax handles for revenue agencies. There are certain goods which should have this stamp before they go out for sale. It is one of the indirect taxes that VRA collects. UCC is doing well with embossment of this stamp on its U-SPLASH. Some producers are doing that. So we are educating the public especially retailers to ensure that products are embossed with the tax stamp”.
Per the Penalties sec 41(9) c of ACT 870, individuals who fail to issue a tax invoice or sales receipt will attract a penalty of five hundred currency points or three times the amount of tax involved and in addition a fine of three hundred penalty units or a term of imprisonment of not more than six months.
James Aggrey also encouraged the general public to pay their taxes voluntarily to avoid having brushes with the law.
Source: KUKUA KWOFIE / ATL FM NEWS