The government of Ghana has warned that parents whose children have been enrolled under the Free SHS programme will be exempted from the Policy starting September 2019 if parents fail to register for a Tax Identification Number, TIN.
Mr Anthony Selom Dzadzra, a Director at the Revenue Policy Division, Ministry of Finance in an interview with the Ghana News Agency on the side-lines of a Post-Budget Sensitisation workshop for journalists in Accra on Monday said the Directive was outlined in the 2019 Budget Statement and Economic Policy of Government.
In that regard, he said, every citizen that wanted to transact business with any government institution and access other social interventions must acquire a TIN to facilitate that process.
Mr Dzadzra said the enforcement of the Directive would enable the Government to generate sufficient revenue to propel its infrastructural development agenda.
“For us to go Ghana beyond Aid, we have to generate revenue in this country and everybody needs to pay a little tax. Therefore, one of the ways of realising this is to make sure everybody is known through the TIN,’’ he said.
“This will enable the Revenue Authorities to easily identify taxpayers and those who have not been captured under the tax net.”
Mr Dzadzra noted that the long-term vision of government is to reduce import taxes so that manufacturing companies can import machinery to increase production.
This, according to him, would enable manufacturing firms to expand their businesses and employ more people.
He said government could then take direct and indirect taxes from the firms in addition to the income taxes from workers to shore up its revenue.
He said it was prudent for companies that gave commercial loans to government to pay consumption taxes, which would serve as means to streamline the tax exemption regime.
Mr Ken Ofori-Atta, the Minister of Finance, presenting the 2019 Budget Statement to Parliament on November 15, outlined six priority areas of Government.
They are Agriculture, Industry, Infrastructural Development, Entrepreneurial Support, Revenue Mobilization, Protecting the Public Purse and Social Partnership.
Government has projected to spend GH¢73.4 billion in the 2019 Budget and mobilise GH¢58.7 billion in revenues through taxes and levies.
Here are 10 important things you cannot do without TIN
A Taxpayer Identification Number (TIN) is a 11-digit unique number generated by GRA for persons including corporate entities upon application.
It is part of efforts to improve tax compliance and broaden the tax net in Ghana. The GRA as part of its operational standards pledges to generate the number within 48 hours upon application accompanied with a valid national identification number such as Driver’s license, Passport, Voter’s ID.
Here are 10 things you cannot do without TIN
- Clearing goods from the port
- -Obtain a tax clearance certificate from GRA
- -Open a bank account
- -Register your company at the Registrars General’s Department or any District Assembly office
- -Receiving any payment from the Controller and Accountant General or a District Assembly in respect of a contract for the supply of any goods or provisions of any services
- -Obtain payment for contracts done for the government
- -File a case in the courts
- -Obtain a passport from the passport office
- -Obtain a driver’s license and register your vehicle at the DVLA
- -Bid for contracts from a government agency
Additional information was culled from GNA