Tuesday, November 19, 2024
HomeNewsReconsider interest and penalties on projected tax on construction companies – Contractors...

Reconsider interest and penalties on projected tax on construction companies – Contractors to GRA

- Advertisement -

The Association of Building and Civil Engineering Contractors of Ghana (ABCECG) Volta Regional branch has submitted a petition to the Ghana Revenue Authority (GRA) to reconsider their taxing system for construction firms contracted by the government.

During a meeting with the Volta Region hierarchy of the GRA at the regional office in Ho, the members led by the Volta Regional Chairman, Dr. Emmanuel Afetorgbor, raised various concerns.

Dr. Afetorgbor questioned the act of GRA not crediting members after recording credit but insisted that they pay debits based on the “desktop assessments”. He also lamented the huge penal charges on delayed filing of returns and entreated the GRA to review the decision, as well as questioned the criteria used in assessing who should pay what.

- Advertisement -

Dr. Afetorgbor expressed his disappointment in the government’s delayed payments for contracts executed, stating that contractors suffer non/delay payment for works done for the government for several years, and when these payments are made, the Government doesn’t pay interest on the said amount. He emphasized that it is unfair for the government to expect tax penalties and interests when clearly the contractor is not to blame.

He also described the situations where some GRA officials humiliate members of the association for delayed payment of taxes as unfair, as the government itself fails to remit or fulfill their obligations when withholding taxes are being deducted from the source of payment.

Dr. Afetorgbor called for the immediate redress of these unfortunate happenings “to foster effective collaboration and business sustainability”, and expressed the need for GRA to constantly engage and educate contractors on changes in their tax collections tactics and also seek input towards effectiveness.

- Advertisement -

The ABCECG Volta Regional branch is seeking a review of the taxing system in order to ensure fairness and effectiveness in the construction industry.

- Advertisement -
Dickson Ofori Siaw
Dickson Ofori Siawhttp://ighanaian.com/journalist/dickson
Dickson Ofori Siaw is an experienced Ghanaian journalist who has worked with credible news outlets, including Ghanafuo.com where he serves as the Head of Content and Editor-at-Large. He also serves as the Editor at iGhanaian.com
RELATED ARTICLES
- Advertisment -

Latest Stories

- Advertisment -