Business News of 2012-10-31

Temporary amnesty for tax evaders

The Ghana Revenue Authority (GRA) has announced that it will be offering amnesty for a limited time to businesses that have evaded taxes.

The move comes in the wake of the Tax Amnesty Bill’s passage in Parliament yesterday.

GRA Commissioner General George Blankson explained that during the amnesty period, taxpayers can come to the GRA office to make the necessary declarations and file returns without fear of penalties or interest charged.

From that point forward, they will be expected to pay their taxes on time.

Blankson added that once the amnesty period expires, tax evaders will become subject to interest and penalties.