On 30 March 2020, Mr. Ken Ofori-Atta, the Minister for Finance and Economic Planning of Ghana presented to the Parliament several proposals to mitigate the economic impact of COVID-19, as follows:
- Income tax return filing deadline will be extended from 4 months to 6 months; that means that returns that were due on 30 April 2020 have been extended to 30 June 2020.
- the taxpayers who pay their outstanding debts due by 30 June 2020 will be granted a remission of penalties on the principal debts.
- Tax authority will waive value-added tax (VAT) on donations of equipment and goods for fighting the COVID-19 pandemic.
- Tax authority will permit the donations for COVID-19 as allowable expenses for tax purposes.
- Tax authority allows taxpayers to remit their taxes by bank transfers.
The Parliament is expected to pass these proposals into law very soon.
