Small Tax Office holds tax education seminar

The Agbogbloshie Small Tax Office of Ghana Revenue Authority (GRA), has organised a tax education seminar for about 100 stakeholders within its catchment area.

Topics discussed include VAT Act 870, filing of returns, the sanctions regime under the Act, rent tax, record keeping, registration and re-registration and withholding taxes.

Mr Stephen Cobbah, Office Manager, Small Tax Office, said the seminar was to help demystify the tax laws and to encourage the stakeholders to operate within the law.

It was also to create a conducive environment for the stakeholders to fraternise with the tax authorities and to discuss their challenges.

He said the tax education seminars would afford them the opportunity to meet stakeholders and engage them in a fruitful discussion on matters relating to the submission of returns, the assessment of the tax and record keeping.

He said the move is to encourage voluntary compliance to help raise the necessary taxes for the country’s development.

Mr Anthony Dekagbe, Principal Revenue Officer, said any person engaging in any taxable activity, with the threshold of GH¢ 120,000.00 is required to register and issue VAT receipts.

He said every operator is also obliged to furnish returns on his operations to GRA and failure to do so would attract a penalty.

He advised the traders to keep good records to enable them easily prepare their monthly returns.