The Ghana Revenue Authority (GRA) has announced the Value Income Tax (VIT), a new tax policy that will take effect on January 1.
The policy has an immediate effect on vehicle owners who utilize ride-hailing services. Regulations 2016, LI 2244, Section 22 stating that "any commercial vehicle owner earning income from the operation of a commercial vehicle shall pay income tax quarterly" is the basis for the assessment.
The GRA has asked ride-hailing companies in Ghana, such as Uber, Yango, and Bolt, to upgrade their web platforms to bring them into compliance with the recently enacted tax guidelines.
For these companies, specific requirements have been established, such as the need for a softcopy of the VIT sticker, verification of sticker authenticity with the GRA, and quarterly reporting to the GRA of the full list of all vehicles on the platform.
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The GRA has stressed the need for owners of ride-hailing vehicles to register their vehicles at any GRA office, with an enforced start date of January 1, 2024. The goal of this registration is to make VIT payments easier for users. The shortcode *222# has made this process accessible.
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