The Ghana Revenue Authority has issued a statement suggesting a tax or fee on gifts.
The GRA intimated in a social media post that attracted backlash from many Ghanaians that everytime a gift is received.
The beneficiary must notify the authority and pay the necessary tax.
Individuals who receive presents must file returns with the Ghana Revenue Authority within 21 days, according to the GRA.
In a nutshell, whenever a gift is received outside of business or work, an individual is expected to notify the Ghana Revenue Authority commissioner and pay a tax on the items received.
In a social media post, the Ghana Revenue Authority stated:
Returns and Payment of Tax Where a present is received by an individual and that gift is not in terms of business and employment, the taxpayer shall within 21 days of receiving the gift, submit to the GRA in writing a return containing the following information:
The description and location of the taxable gift
The total value of the gift
How it is calculated and tax payable with respect to that gift
The full name and address of the donor of the gift
Any other information required by the Commissioner
Those who owe tax must pay it to the Commissioner at the time they file their return..
In addition to the E-levy, it is evident that Ghanaians would be required to pay the domestic tax on presents they receive going forward.