Taxpayers assured of benefits

Mr. Alfred Twumasi Ntiamoah addressing the participants.

Mr. Alfred Twumasi Ntiamoah addressing the participants.

Taxpayers have been assured that their contributions are being put to good use and, therefore, they should not be discouraged or default in payment.

The Assistant Commissioner for the Tema Medium Taxpayers Office of the Ghana Revenue Authority (GRA), Mr. Alfred Twumasi Ntiamoah who gave the assurance, stated that their taxes would never be in vain. “What you pay is put in the national kitty and it will never go waste”.

He was addressing taxpayers and stakeholders at a seminar here  on the ‘Income Tax Act 2015 (Act 896), assessment of employment income, self assessment, withholding taxes, capital reliefs/capital allowances, VAT Act 870,’ Sanctions under Act 870 and 896”.

xxxxIt was aimed at educating tax payers to understand the law and some specifications in relation to what is expected of them to increase the tax compliance level.

The seminar was also to expose their clients to the repercussions  should they default, an exercise Mr Ntiamoah explained,  was in line with modern tax administration and further aimed at making the job of the GRA easier and increase revenue for the state.

He reminded the participants that “taxpaying is a civic responsibility”.

Mr. Ntiamoah said “when the citizenry pay their taxes, it helps the nation to grow “and at the end, Ghana triumphs”.

He condemned people who refused to pay their taxes or understate their income on their return forms referring to them as unpatriotic and putting themselves up to face the law and therefore charged the participants to disclose what they get always, “no undercover, no hiding. Be sincere”.

According to him, it was unfortunate that some clients do what was unlawful because they intend to outsmart the system however due to the stringent measures being put in place by the GRA to ensure that the right thing is always done in the interest of the nation, such persons are found out and made to pay penalties.

The Assistant Commissioner revealed that some penalties paid by defaulters even ended up being more than the taxes such clients had to pay, and at the end they were always at the losing end.

He questioned if it was not worth it for such huge sums of money being paid as penalties to be invested into the offender’s business to grow.

He stated that currently the penalty interest is 125 per cent among others aside payment of interest on the tax evaded.

From Dzifa Tetteh, Tema.

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