GRA Connects | Understanding Income Tax || GRA

[@isaacewool7644]

Refreshing 🎉

[@Agadanah]

Thanks for this educative platform because it will help our women understand clearly what they have long not understood. However, i have a question and the question is: if a Real Estate developer is looking to get into a consulting business for large corporate sales, what is the best structure to minimize the tax burden? Also, what will be the deductions and credits you may be eligible for? How can they obtain an accountant to proceed with their business transactions in bookkeeping, corporate Tax, year end services and personal Tax services?

[@GhanaRevenue]

Hello, you may be eligible for reliefs and allowable deductions like SSNIT, mortgage interest, some donations, etc. You can visit the Chartered Institute of Accountants to hire an accountant who will be able to assist you in minimizing your tax burden.

[@asarereuben7123]

E-levy is charged on my MTN merchant SIM. How will I resolve that?

[@jerrykuko6880]

Well spoken.

[@kwamebonsuosei8205]

Great info and good job..... My question is, as a sole trader that sells fabric, - do i have to pay tax ? - which type of tax ? - Must tax be calculated on profit amount after deducting all my expenses and operational expenses....? Thanks for your cooperation.

[@GhanaRevenue]

Please visit the nearest GRA office and you will be interviewed and registered for the relevant tax types

[@batistasimons3121]

Smh... 😂 So you expect me to disclose my earnings from my side businesses to commissioner general... Let's pray 😂

[@FARMCITYGHANA]

Hello ,Please I want to know the total quantity and the cost of dried rosemary imported to Ghana in 2022 and 2023 respectively how and where can i find that Data

[@GhanaRevenue]

Kindly write to the Commissioner -General for this information or apply to the Right to Information Board

[@emmxnetwork]

So companies are to pay which percentage in their profit ?

[@GhanaRevenue]

The general Corporate Income Tax rate is 25% However, there are contemporary rates depending on the nature of business carried out by an entity, location of business and specific industry. You can read more on our website gra.gov.gh/domestic-tax/tax-types/corporate-income-tax/

[@emmxnetwork]

Is percentages for taxes fixed or it's increased sometimes?

[@GhanaRevenue]

The tax rates are specified in laws and so are fixed until a new law is passed that will give a new rate.

[@benefitmadambi7326]

Good Day, please give steps on how to file Annual PAYE reconciliation?

[@GhanaRevenue]

Thank you for the feedback, please have you visited the taxpayers portal? We do have instructional video on how to file your PAYE. Thank you

[@ayanamustaphasalifu6709]

Please, teach how to fill Anual Returns for Foundation on the online platform

[@GhanaRevenue]

Please contact any of these numbers for portal assistance. 0202965197, 0202965144, 0202964181, 0202964704

[@sandranyamedor8122]

@@GhanaRevenue Please how about young entrepreneur income tax exemption?

[@GhanaRevenue]

gra.gov.gh/portfolio/corporate-income-tax/ gra.gov.gh/domestic-tax/tax-types/tax-exemptions-for-businesses/

[@GhanaRevenue]

The income of a young entrepreneur from the business of manufacturing, information and communication technology, agro processing, energy production, waste processing, tourism and creative arts, horticulture and medicinal plants has been exempted from tax for a period of five years.

[@NimoOscar-tv1np]

@@GhanaRevenue Please how will you classify profits from forex trading. What's the tax form if you trade as a individual or trade as an LLC?

[@TheWorldwithSpecialPee-yb6fk]

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