The Ghana Income Authority (GRA) is getting ready a concrete framework for the taxation of e-commerce within the close to future.
The GRA has delayed the method because of the unfolding of the COVID19 pandemic
When it commences, consumption taxes will apply on e-commerce transactions, along with the revenue taxes already relevant on companies that present platforms for e-commerce actions.
Their not being caught up within the consumption tax web has given e-commerce channels additional worth benefits. Nevertheless, the graduation of taxation of e-commerce will take away that benefit as taxes charged will largely, if not fully, be handed on to customers.
The Commissioner Common of GRA, Mr Ammishaddai Owusu Amoah has indicated that whereas different sectors are being hit onerous by the COVID- 19 pandemic, others just like the communication, digital funds and the e-commerce sectors are gaining tremendously.
“At present, knowledge is one factor we’re all consuming, due to this fact, we anticipate that these in that sector ought to see their revenues going up.” He stated.
The Commissioner Common famous, “in the meantime, we have now nonetheless not began taxing e-commerce. It is, without doubt, one of the issues which might be already in our strategic plan that we’re engaged on for this 12 months and due to this fact we’ll come out with a plan on the proper time.”
As a part of upcoming methods, the GRA is at the moment placing mechanisms in place to automate the fee of VAT by the Built-in Tax Utility end-to-end platform and different initiatives.
