GRA educates large tax payers on new income tax act

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The Ghana Revenue Authority, GRA, has organised a day’s sensitization seminar for Large Tax Payers to educate them on the new Income Tax Act, 2015 (Act 896).

Some of the changes in the new Act, include the review of Capital Gains Tax and Gift Tax from the 15 percent flat rate to a quantified cost classified under employment, business or investment.

Companies who enjoy tax holidays are also expected to pay a one percent tax during the tax holiday.

In the presentation, a Chief Revenue Officer at GRA, Dominic Naab, said the changes in the new Income Tax Act is an improvement of the IRS Act 2009 (ACT 592).

 

Source: GBC

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