Tax Amnesty bill passed before parliament Adjourns sitting

Tax Amnesty bill passed before parliament Adjourns sitting

Ghana’s Parliament before Adjourning sitting  passed the tax amnesty bill to improve voluntary tax payment .

If the President hereby assent’s this bill into law,it will grant amnesty by re adjusting the penalty  to be paid by persons who fail to register with the Commissioner General or file tax returns as required by law .

The Deputy Finance Minister, Kwaku Kwateng is optimistic that this move will help government meet its tax revenue target.

The Deputy finance minister however stated that “This Tax Amnesty is supplementary to the efforts that government intends to make in 2018 to ensure that the revenue projections in the 2018 budget are achieved”.

“This House[parliament] graciously approved many tax compliance measures which were in the 2018 budget . It must not be made to look as though this amnesty is the only measure we will implement in 2018,” he said.

The tax amnesty policy is to help government reduce taxes on production, through that increase financial liquidity for the productive sectors of the economy and thus accelerate growth of the private sector and its capacity to generate jobs.