Ghana Revenue Authority Initiates Awareness Campaign for Annual Income Tax Filings

The Ghana Revenue Authority (GRA) has launched a series of sensitization programs aimed at educating individuals and institutions on the importance and requirements of filing annual income tax returns by the end of April each year. The initiative is part of the annual Tax and Good Governance Month, dedicated to raising awareness about tax obligations and compliance.

Throughout the month, the GRA hosts various activities such as seminars, workshops, and tax clinics. These events are designed to engage taxpayers directly, informing them of their responsibilities and the benefits of compliance.

Dr. Martin Kolbil Yamborigya, Assistant Commissioner and Head of Audit at the Large Taxpayer Office, spoke at a recent event targeting public sector employees. He emphasized that the campaign not only aims to remind taxpayers of their obligations but also educates them on the benefits available through proper tax filing.

“Filing your tax returns is beneficial beyond just fulfilling a legal requirement. It opens up opportunities for taxpayers to claim various reliefs, such as child education relief, marital relief, and mortgage relief,” Dr. Yamborigya explained. He added that taxpayers could receive refunds for any overpayments made during the year, with the GRA mandated to issue these refunds within 60 days of recognizing the overpayment.

Dr. Yamborigya also highlighted the consequences of non-compliance, which can include monetary penalties and even imprisonment. However, he noted that the GRA encourages voluntary compliance by allowing taxpayers to disclose accurate information voluntarily and potentially have their penalties waived under the amended section 74 of the Revenue Administration Act.

The initiative also addresses the taxation of income earned abroad by resident Ghanaians. Dominic Adamnor Nortey, Chief Revenue Officer, explained that the law, which has been in place since 2016, mandates that all income, whether earned domestically or abroad, must be reported and taxed accordingly.

“The implementation of this law comes at a time when the GRA has sufficient information to enforce compliance, thanks to international agreements that facilitate data exchange on income earned by Ghanaians in about 170 countries,” Mr. Nortey clarified.

This push for better compliance is driven by the GRA’s enhanced capability to monitor international earnings and implement the tax laws effectively, ensuring that all taxable income is accurately reported and taxed