Ghana Revenue Authority Targets Overseas Earnings in Tax Compliance Drive
The Ghana Revenue Authority (GRA) is intensifying its efforts to ensure tax compliance among Ghanaian citizens who generate income or hold assets in foreign countries. This initiative is a crucial part of the GRA’s broader plan to strengthen domestic revenue generation and support Ghana’s economic development.
Enhanced Data Sharing Drives Compliance Efforts
Commissioner-General of the GRA, Anthony Sarpong, recently revealed that the authority has sent over 1,000 notices to Ghanaians with overseas financial holdings, requiring them to reconcile their foreign tax payments with their Ghanaian tax liabilities. This move is facilitated by international data-sharing agreements, specifically the automatic exchange of information framework. This framework allows Ghana to access financial data from various global partners, enabling the GRA to identify and pursue individuals who may not be fully compliant with their tax obligations. The aim is to secure the country’s appropriate tax revenue share and to tackle long-standing compliance gaps. The GRA is also set to implement nationwide tax education programs for the informal sector by 2025, focusing on building compliance from the ground up.
Keywords
Related Keywords: GRA overseas earnings, Ghana Revenue Authority, tax compliance, international tax, offshore earnings, foreign income, tax regulations, compliance enforcement, revenue collection, global tax
