In the 2020 budget and Economic policy statement, the government of Ghana has proposed to implement some compliance measures to improve revenue administration in Ghana.
Government proposed the introduction of an Alternative Dispute resolution (ADR) mechanism to resolve tax disputes and also view voluntary compliance as the best form of tax compliance as it plays a lighter administration burden on government.
Individuals or organizations that have issues with tax decisions made by the Commissioner General of the Ghana Revenue Authority, GRA, should be able to seek redress when the Revenue Administration (Amendment) Bill, 2020 comes into force.
The Bill will also allow for the payment of a shortfall in tax liability due to omissions or misstatements, without the payment of penalty.
On Monday 13th July, 2020, the Bill went through its second reading in Parliament and the Chairman of the Finance Committee of Parliament, Dr. Mark Assibey Yeboah says when passed, the bill will reduce the amount of money the GRA spends in pursuing some taxes.
The final passage of the Bill will among other things improve investor confidence as hearings will be determined faster.
The GRA also believes the new amnesty regime should lead to the registration of about one thousand voluntary taxpayers.
The Finance committee of parliament certifies that the Revenue Administration amendment bill 2020 is of an argent nature and may be taken through all the stages of passage in one day.
By Naa Anyema Collison