TAXING INCOME THAT DOES NOT YET EXIST
I want to pay my taxes. I'm finding it harder than it should be.
I registered my company at the ROC, SSNIT and PPA, and those processes were clear and fair. Then came the VAT office, where my portal shows GHS 5,000 in Corporate Income Tax and GHS 500 in Growth and Sustainability Levy, both overdue, for a company that hasn't earned a pesewa yet.
CIT is charged on income, and the GSL on profit before tax. So what is the legal basis for an assessment at registration? And why does the levy look like 10% when the Act speaks of 5%?
If I can't understand it, what of the young entrepreneur with no accountant? They will stay informal, and Ghana loses a future taxpayer.
Unclear charges also invite discretion, and discretion invites temptation. I accuse no officer, but clear rules protect honest officers as much as honest taxpayers.
I'm asking Parliament's Select Committee on Finance and the GRA to publish the formula, separate VAT certification from non-VAT payments, and itemise every charge.
Let's make compliance the easy road.
