<\/p>\n
The\u00a0Ghana Revenue Authority\u00a0has recovered in excess of US$ 93 million and an additional GH\u00a2421million from multinational and local companies operating in the country through its informants\u2019 reward scheme.<\/p>\n
These were ordinarily taxes which the state could have lost as a result of the firms\u2019 unwillingness to pay until the intervention of informants, who used the Informant Application System to draw the Authority\u2019s attention.<\/p>\n
The respective informants have been rewarded handsomely for their initiative.<\/p>\n
Speaking to journalists on the revival campaign for the GRA informants reward scheme, Acting Head of Intelligence at the GRA, Wisdom Xetor, noted this is an indication that the Informant Reward Scheme is effective and must be encouraged among citizens.<\/p>\n
\u201cWe have recovered more than GH\u00a2421million as well as US$98million so far, even before the year could end. So I think the scheme is yielding results, and many are providing information that is leading to recovery of these taxes which could have been lost if this avenue were not provided for them to give information to us about the improprieties relating to tax payments in the country,\u201d he said.<\/p>\n
The Informant Award Scheme is a means of rewarding individuals, entities or organisations which offer information to the GRA about persons or companies who commit offences under the tax laws of Ghana.<\/p>\n
This information is relied upon to enforce compliance with tax laws.<\/p>\n
It is also often relied upon to determine whether a person is registrable as a taxpayer, whether a taxpayer files his tax returns, or whether the correct amount of tax has been declared and paid, etc.<\/p>\n
Explaining the terms and amounts paid to informants, Mr. Xetor noted informants whose information leads to recovery below GH\u00a22.5million will be paid 25 percent of interest or penalties, capped at GH\u00a225,000.<\/p>\n
Where the amount exceeds GH\u00a22.5million, the informant will be paid a one percent of total collections capped at up to GH\u00a2250,000.<\/p>\n
Also, in a situation where the amount recovered exceeds GH\u00a225million, top management in consultation with the board determine the amount to be paid.<\/p>\n
But in the event that there are no penalties and interest and the amount recovered is less than GH\u00a22.5million, a flat payment of between GH\u00a25,000 to GH\u00a225,000 will be paid as the Commissioner-General deems fit.<\/p>\n
The GRA is hopeful many citizens will volunteer information that leads to the recovery of more taxes for the state.<\/p>\n
Source: thebftonline.com<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Featured Video\n<\/p>\n\n
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