The Ghana Revenue Authority (GRA) Large Taxpayer’s Office (LTO), as part of efforts at continuing public education on the Income Tax Act, 2015 (896), has organised a tax education seminar for all companies under the LTO.
The seminar was to sensitise, communicate and receive feedbacks from stakeholders following the new tax act so as to build a solid nation through taxation.
The seminar is the first of four such seminars to be organised by the GRA to educate all companies under its LTO.
Briefing the participants, Mr Dominic Naab, Chief Revenue Officer, LTO, GRA, explained that the old act has outlived its usefulness while the new act takes into account all sectors of the economy.
Representatives from LTO companies were taken through the features on the new changes in the new tax act such as Capital Allowance and Tax Holidays.
Private educational institutions that were hitherto exempted from paying taxes are now to pay taxes, according to the new act, but government institutions are exempted because they are established at the expense of the taxpayer.
The LTO is a department under the Domestic Tax Revenue Division (DTRD) of the GRA.
It operates as a specialised tax office focusing exclusively on large taxpayers identified by the GRA.
It offers a one-stop shop for taxpayers with regard to all activities related to taxpayer obligations, as well as the GRA’s obligations to taxpayers. The office is headed by a Deputy Commissioner.
Source: The Finder