{"id":680879,"date":"2019-08-14T12:12:05","date_gmt":"2019-08-14T12:12:05","guid":{"rendered":"
\n\t\t\n

TAX\nEXEMPTIONS on import duty, import VAT, import NHIL and domestic VAT over the past\neight years have grown from GH\u00a2391.90 million (0.6% of GDP) in 2010 to GH\u00a24,662.36\nmillion (1.6% of GDP) in 2018, the Ghana Revenue Authority (GRA) has "},"modified":"2019-08-14T12:12:05","modified_gmt":"2019-08-14T12:12:05","slug":"tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/","title":{"rendered":"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn"},"content":{"rendered":"

<\/p>\n

\n

TAX
\nEXEMPTIONS on import duty, import VAT, import NHIL and domestic VAT over the past
\neight years have grown from GH\u00a2391.90 million (0.6% of GDP) in 2010 to GH\u00a24,662.36
\nmillion (1.6% of GDP) in 2018, the Ghana Revenue Authority (GRA) has said.<\/p>\n

These
\nfigures do not include exemptions from the payment of corporate and individual
\nincome taxes, concessions on tax rates, petroleum tax reliefs, customs tax
\nexemptions enjoyed by diplomatic missions and waiver of processing charges at
\nthe ports.<\/p>\n

Also, these
\ndo not include a difference of about GH\u00a21 billion attributable to the FPSO that
\nwas brought into the country in 2017.<\/p>\n

The GRA made
\nthis known at a two-day workshop it sponsored for members of the Private
\nNewspaper Publishers Association of Ghana (PRINPAG) over the weekend in
\nKoforidua, Eastern Region. <\/p>\n

Causes<\/strong><\/p>\n

Daniel Nuer,
\nan official of GRA, who took participants through the \u2018Impact of Tax Waivers on
\nGhana\u2019s Economy\u2019, mentioned some factors that contributed to the situation.
\nChief among these included the lack of clear exemptions policy, exemption
\nclauses in donor-funded projects, lack of sunset clauses for exemptions, exemptions
\ngranted government entities and public institutions, exemptions granted without
\nrecourse to the Ministry of Finance, abuse of exemptions, as well as inadequate
\nreporting on tax expenditure.\n<\/p>\n

Policy Proposals<\/strong><\/p>\n

He said to
\nhelp arrest the canker, the GRA had proposed that where the private sector
\nsupplies goods, services or projects to the public sector, such supplies shall
\nbe priced at market prices and those private sector suppliers shall pay all
\ntaxes and import duties chargeable on those transactions.<\/p>\n

It said businesses
\nand investors that sought tax exemptions as a way of improving the viability or
\nprofitability of their businesses should be required to grant the state equity
\nshare equivalent to the tax and duty waivers granted by government. <\/p>\n

It also
\ncalled for the passage of an Exemptions Act to ensure that proper processes and
\nprocedures were put in place to provide transparency.<\/p>\n

Mr. Nuer said the Ministry of Finance had commenced studies into the
\nimpact of all tax expenditure with an eye to redesigning expenditure such that Ghana
\ngot value for money. <\/p>\n

Over the past two years, government had taken several steps to reduce the burden of this expenditure by introducing the \u2018Pay-and-Come-for-Refund\u2019 policy for six months in 2017, the presentation of an Exemptions Policy to Cabinet and the submission of an Exemptions Bill to Parliament.<\/p>\n

BY Samuel Boadi <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

TAX EXEMPTIONS on import duty, import VAT, import NHIL and domestic VAT over the past eight years have grown from GH\u00a2391.90 million (0.6% of GDP) in 2010 to GH\u00a24,662.36 million (1.6% of GDP) in 2018, the Ghana Revenue Authority (GRA) has said. These figures do not include exemptions from the payment of corporate and individual […]<\/p>\n","protected":false},"author":1,"featured_media":680880,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-680879","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nTax Exemptions Bleed Ghana Of GH\u00a24.66bn - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh\u00a24-66bn\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"TAX EXEMPTIONS on import duty, import VAT, import NHIL and domestic VAT over the past eight years have grown from GH\u00a2391.90 million (0.6% of GDP) in 2010 to GH\u00a24,662.36 million (1.6% of GDP) in 2018, the Ghana Revenue Authority (GRA) has said. These figures do not include exemptions from the payment of corporate and individual […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/1565784728_tax.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn\",\"datePublished\":\"2019-08-14T12:12:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/\"},\"wordCount\":400,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/1565784728_tax.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/\",\"name\":\"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/1565784728_tax.jpg\",\"datePublished\":\"2019-08-14T12:12:05+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/14\\\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/1565784728_tax.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/1565784728_tax.jpg\",\"width\":600,\"height\":412},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh\u00a24-66bn\/","twitter_card":"summary_large_image","twitter_title":"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn - Ghanamma.com","twitter_description":"TAX EXEMPTIONS on import duty, import VAT, import NHIL and domestic VAT over the past eight years have grown from GH\u00a2391.90 million (0.6% of GDP) in 2010 to GH\u00a24,662.36 million (1.6% of GDP) in 2018, the Ghana Revenue Authority (GRA) has said. These figures do not include exemptions from the payment of corporate and individual […]","twitter_image":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/1565784728_tax.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"headline":"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn","datePublished":"2019-08-14T12:12:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/"},"wordCount":400,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/1565784728_tax.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/","url":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/","name":"Tax Exemptions Bleed Ghana Of GH\u00a24.66bn - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/1565784728_tax.jpg","datePublished":"2019-08-14T12:12:05+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2019\/08\/14\/tax-exemptions-bleed-ghana-of-gh%c2%a24-66bn\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/1565784728_tax.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/1565784728_tax.jpg","width":600,"height":412},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2019\/#website","url":"https:\/\/www.ghanamma.com\/2019\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2019\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"}}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/680879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/comments?post=680879"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/680879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media\/680880"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media?parent=680879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/categories?post=680879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/tags?post=680879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}