Independent Tax Appeals board to be established

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A deputy Minister of Finance, Abena Osei-Asare, has laid before Ghana’s parliament a bill, the Revenue Administration (Amendment) Bill, 2020 which which help to establish an independent tax appeals board.

The board when eventually established will help increase revenue generation and resolve disputes between the Ghana Revenue Authority (GRA) and the taxpayer.

The Bill which was laid on the floor of Parliament on Thursday, April 30, 2020, seeks to establish a board that will, among other things, hear and determine appeals against tax decisions made by the Commissioner-General.

The Bill’s approval will also allow payment of shortfall in tax liabiliies resulting from omissions without payment of a penalty and also require subcontractors of government contracts to submit Tax Clearance Certificates (TCCs).

Presenting the report of the Finance Committee on the bill, Chairman of the Finance Committee, Dr. Mark Assibey-Yeboah noted that the establishment of the board will instil investor confidence and reduce time spent on litigation for both taxpayers and the Ghana Revenue Authority.

The report also noted that the setting up of the board will cost the government an estimated GHS2.5 million and expected to increase the country’s revenue mobilization.

Source: Laudbusiness.com/Ghana

 

 

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