Business Executives calls for streamlining of LTU

Accra, Nov.24 GNA - Participants at a forum on tax administration and revenue mobilization on Friday called on the Revenue Agencies Governing Board (RAGB) to streamline the activities of the Large Taxpayer Unit (LTU) to ensure good customer relations with large corporate organizations.

They said the restructuring of the unit would reduce the delays in securing tax clearance certificates and also simplify other tax procedures at the place.

The contributors who were mainly Chief Executive Officers and Financial Directors from big and multinational companies were part of a group business executives who have been holding series of discussions with newly appointed officials of the LTU in Accra with the aim of analyzing some of the problems faced by the businesses and how best to address them.

Mr Joseph Watson, a Financial Director at the Golden Resources Limited called for the proper decentralization of the LTU at the district level to cater for large taxpayer companies operating in those areas.

He said companies operating outside Accra most of the time found it difficult to secure their tax clearance certificates and to file their VAT returns because of cumbersome procedures. Mrs Comfort Boohene-Osafo, Director of LTU said the unit has put in place measures to provide a one-stop-centre that would take care of all tax matters especially those of large taxpayer companies. She said the LTU has introduced a modern audit procedure and collection technique through the computerization of its systems to improve the efficiency and effectiveness of the tax administration. She called on corporate organizations to send knowledgeable persons who were capable of filing their VAT returns, payment of liabilities and accounting to handle such processes. Mrs Boohene-Osafo further urged the large businesses to comply with the deadlines set by the LTU in the filing of their tax liabilities and to avoid being sanctioned. 24 Nov. 06