Ghana: Direct and indirect tax administration provisions in 2023 mid-year budget review

Mid-year budget did not introduce additional taxes on businesses and entrepreneurs

Mid-year budget did not introduce additional taxes on businesses and entrepreneurs

The Minister of Finance on 31 July 2023 presented the 2023 mid-year budget review to parliament. The mid-year budget did not introduce additional taxes on businesses and entrepreneurs but rather focused on enhancing existing tax administration measures.

The proposed tax administration measures include:

  • Development of a medium-term revenue strategy guide to enhance public accountability and transparency of revenue policy within the Ghanaian economy in the short- to medium-term
  • Review of the tax treaty negotiation policy to meet international standards and a further development of an accompanying negotiation manual to guide treaty negotiations
  • Development of a draft legislative instrument to the Fees and Charges (Miscellaneous Provisions) Act, 2022 (Act 1080) to guide stakeholder engagements and to confirm the competitiveness of the fees and charges imposed by various ministries, departments, and agencies
  • Development of regulations to the Exemptions Act, 2022 (Act 1083) to provide clarity
  • Roll out of administrative guidelines, processes, and returns on taxing of gross betting in second half of 2023
  • Establishment of a revenue compliance team to monitor the effective implementation of the value added tax (VAT) upfront non-registration penalty at importation
  • Review of classification and values used in the integrated customs management system to assist in product classification and enhance accuracy of import duties and tax assessment
  • Enhancement of customs operations to improve the preventive operations and control of suspense regimes including special free zone audits
  • Development of practice notes to guide the implementation of the minimum chargeable income system to support effective implementation scheduled for the fourth quarter of 2023

Read an August 2023 report [PDF 1.8 MB] (30 pages) prepared by the KPMG member firm in Ghana



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