{"id":141024,"date":"2024-01-19T12:28:21","date_gmt":"2024-01-19T12:28:21","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/01\/19\/gra-implements-tax-amendment-acts\/"},"modified":"2024-01-19T12:28:21","modified_gmt":"2024-01-19T12:28:21","slug":"gra-implements-tax-amendment-acts","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/01\/19\/gra-implements-tax-amendment-acts\/","title":{"rendered":"GRA Implements Tax Amendment Acts"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\u00a0<\/p>\n<p>The Ghana Revenue Authority (GRA) has commenced implementation for the seven tax amendments that were passed by Parliament and signed into law by President Akufo-Addo.<\/p>\n<p>In a circular issued by the GRA, the authority said it will also develop administrative guidelines and publish notice on the implementation of the amendments where necessary.<\/p>\n<p>The authority has also indicated that the payroll deductions for January 2024 \u201cshould reflect the new rates provided in the Income Tax (Amendment)\u201d.<\/p>\n<p>President Akufo-Addo on December 29, 2024 signed into law seven Tax Bills passed parliament.\u00a0 They include Value Added Tax (Amendment) Bill, 2023; Excise Duty (Amendment) (No. 2) Bill, 2023; Stamp Duty (Amendment) Bill, 2023; Emissions Levy Act, 2023; Exemptions (Amendment) Act, 2023; Customs Amendment Act, 2023; and Income TAX Amendment Act, 2023.<\/p>\n<p>The VAT Bill seeks to expand the tax net and extend the zero rate on locally manufactured products, introduce a zero rate on locally-produced sanitary towels and waive the VAT on the import of electric vehicles for public transportation.<\/p>\n<p>The application of the tax may also result in Motor Insurance Premiums going by more than 21% from next year.<\/p>\n<p>This is due to the application of Non-Life Insurance Business and products.<\/p>\n<p><strong>A Business Desk Report<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 The Ghana Revenue Authority (GRA) has commenced implementation for the seven tax amendments that were passed by Parliament and signed into law by President Akufo-Addo. In a circular issued by the GRA, the authority said it will also develop administrative guidelines and publish notice on the implementation of the amendments where necessary. The authority [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":122855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-141024","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GRA Implements Tax Amendment Acts - 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\/2024\/01\/19\/gra-implements-tax-amendment-acts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GRA Implements Tax Amendment Acts - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"\u00a0 The Ghana Revenue Authority (GRA) has commenced implementation for the seven tax amendments that were passed by Parliament and signed into law by President Akufo-Addo. In a circular issued by the GRA, the authority said it will also develop administrative guidelines and publish notice on the implementation of the amendments where necessary. 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