Tax Amnesty For Ghana’s Tax Evaders

October 31, 2012 Taxation in Ghana

Parliament of GhanaACCRA – Ghana is offering tax evaders an opportunity to come clean and start paying their taxes again, in exchange for protection from interest and penalties.

On October 30th the parliament of Ghana approved Internal Revenue (Tax Amnesty) Bill 2011, launching a tax amnesty for individual taxpayers who have not met their tax obligations or have not completed all necessary tax filing procedures.

Commenting on the tax amnesty and its intended benefits, the Minister of Finance and Economic Planning Kwabena Duffuor said that it will promote growth the economy of Ghana and will improve the national fiscal position by widening the country’s tax net, as it” …would offer a number of liable taxpayers an opportunity to start afresh in fulfilling their tax obligations.”

Under the conditions of the amnesty, all taxpayers who come forward and disclose full information regarding their unpaid taxes will not be required to pay any interest or penalties on the obligations, under the requirement they must register with the Ghana Revenue Authority if they have not already done so, and must correctly amended all their tax returns up to September 30th 2012.

Taxpayers who are already under investigation by the GRA or those who have already been contacted regarding their missed obligations are not eligible to take advantage of the amnesty.

This is not the first time the government of Ghana has chosen to offer a tax amnesty, with a similar program aimed at businesses in 2007 having resulted in a significant number of entrepreneurs having come forward and fulfilled their tax obligations.

Photo by World Bank Photo Collection