A tax analyst, Francis Timore Boi, has urged the Ghana Revenue Authority (GRA) to provide industry stakeholders with adequate timelines to ensure effective compliance with tax policies, particularly those affecting fuel.
His remarks follow the GRA’s delay in implementing the GHC1 Energy Sector Shortfall and Debt Repayment Levy, initially scheduled for June 9, due to strong opposition from industry players.
The new implementation date has been moved to June 16. Timore Boi emphasized the critical need for proper transition periods when introducing new taxes, especially on essential commodities like fuel. “Generally, when new taxes or levies are introduced—particularly on essential commodities like fuel—there must be a reasonable implementation period,” he said. “This allows businesses time to align and configure their systems for proper compliance.”
Timore Boi called for dialogue between the GRA and Oil Marketing Companies (OMCs) to agree on a feasible timeline. “This situation requires both the GRA and OMCs to sit together and determine what a realistic timeline looks like,” he added. “The concerns raised by the OMCs are valid—there are technical adjustments that must be made before implementation can proceed smoothly.”
The tax analyst’s comments highlight the importance of collaboration and adequate planning in implementing tax policies. By working together, the GRA and industry stakeholders can ensure a smoother transition and minimize disruptions to businesses and consumers.
Source: Apexnewsgh.com
