The Commissioner-General of the Ghana Revenue Authority, Ammishaddai Owusu-Amoah has said the agency has not started taxing e-commerce. This is as the Ghana Revenue Authority has outlined measures to help boost revenue for the government as the coronavirus pandemic hits the various sectors of the economy.
“It (ecommerce) is one of the things that are already in our strategic plan that we are working on for this year and therefore we will come out with it at the right time,” Ammishaddai told Ghana-based JoyNews Channel.
Here Is What You Need To Know
- According to Ghana ‘s chief tax man, even though there is no tax on ecommerce, GRA is seriously in the process of automating payment of value-added tax (VAT) in the country.
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“We are looking at the Integrated Tax Application end-to-end that is also being worked on. So these are certain initiatives that are ongoing,” he added.
- The Ghanaian government in its 2020 budget statement planned to raise GH¢67.1 billion ($11.6 billion), representing 16.9 percent of GDP, in total revenue. Out of the total expected figure for next year, GH¢65.8 billion is to be raised from domestic revenue, representing an annual growth of 22.5 percent over the projected resources for 2019.
- Earlier this month, the Ghanaian Parliament amended the Income Tax (Amendment) Act 2015 to exempt withdrawals from third-tier provident funds and personal pension schemes from tax. This is to cushion individuals who have lost their jobs or capital due to the Coronavirus pandemic. This amendment in fiscal terms will amount to 639 million Ghana cedis if all funds are withdrawn under the given circumstances.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
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