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Ghana Revenue Authority (GRA) presents rent tax- Commissioner-General

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Commissioner-General of the Ghana Revenue Authority (GRA), Ammishaddai Owusu-Amoah, has declared the execution of rent tax by end of the year.

He mentioned that rent tax app will also be outlined to track properties whether it is rented or owner-occupied.

As reported by the Commissioner-General, the collection of rent taxes will be made easy with the app as tax dodger will be tracked easily.

He advised landlords and property owners to do the needful anytime they let out rooms for rent or be charged 125% of the statutory rate compounded monthly if they do not before the deadline.

“For the good of everyone, we have introduced the rent tax app which has everyone’s data on it, if your name is searched the app will take us directly to your location and then when we get there we will be able to identify whether the property is owner-occupied or rented. This will not make it possible for anyone to hide from paying your taxes. If you have a property you are renting, start paying the rent tax. We should all be compliant with this new ideology. Currently, we have started implementing the app at Accra, Kumasi, Tema areas.”

“Failure to pay your tax on rent income by the due date will attract an interest of 125% of the statutory rate compounded monthly. Remember to make available copies of all receipts of payment of rent tax for inspection by officers of Ghana Revenue Authority (GRA),” he added up.

Rent Tax should be paid within 30 days after the rent income is received by landlords or property owners.

In Ghana, there are rent rates; 8% for residential premises and 15% for non-residential premises.

Payment of the rent tax may be made at the nearest Domestic Tax Revenue Division Office and at all banks. He stated this at the Ghana Financial Intermediation Awards on Friday, June 11, 2021.

 

 

 

 

Source:1familyradio.com

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