The Independent Tax Appeals Board (ITAB) was established in Ghana by the government, and the UK-Ghana Chamber of Commerce (UKGCC), a member-based trade group that fosters commerce between the UK and Ghana, welcomes this development.
The Revenue Administration (Amendment) Act, 2020 (Act 1029), which established the Board, would address tax issues and appeals against Ghana Revenue Authority objection judgments. "We anticipate that this will improve revenue mobilization through swift adjudication, precision, and fairness in tax dispute resolution," said Anthony Pile MBE, Chairman of the UKGCC Executive Council.
The fact that taxpayers will have an opportunity to have a fair hearing of their cases and a determination of the correct amount of their obligations by an impartial agency before being obliged to pay them is good news for businesses and investors in Ghana. The Ghana Revenue Authority (GRA) issues with taxpayers had to be settled through expensive and drawn-out judicial proceedings under the former system of tax appeals.
The Board, which is independent of the Ghana Revenue Authority, will provide an effective and affordable appeal procedure for tax cases in Ghana, resulting in a system that is transparent, balanced, and gives taxpayers more trust.
"We anticipate the notice of appointment for the Executive Secretary of the ITAB, who will be in charge of receiving appeals," Mr. Pile said.
The UK-Ghana Chamber of Commerce has long been one of the leading supporters of tax administration and policy changes that best create an environment that encourages business and investment while generating funds to assist Ghana's economic development.
Regarding the UKGCC
For the purpose of fostering business ties between the UK and Ghana, the UK-Ghana Chamber of Commerce (UKGCC) was founded in 2016. It is Ghana's top provider of business help from the UK.
The UKGCC offers its members excellent support by fostering information and idea exchange, developing venues for forming stronger networks, and establishing connections with the government and its agencies. One of its main objectives is to make Ghana a substantial economic partner for the UK, serving as a source of imports, a market for exports, a location for investments, and vice versa. It exists to expand economic possibilities and advance the commercial interests of its members in both nations.
Through the UK-Ghana Business Council and the British Chambers of Commerce in the UK, the British and Ghanaian governments support the Chamber, which is also a strategic partner of the Africa Scotland Business Network.