On 22 December 2017, the Parliament has passed the Tax Amnesty Bill 2017 for a period of eight months. The Bill, passed under a certificate of urgency has eight clauses, among which are amnesty for taxes, penalties and interests, and prohibits the Commissioner General from assessing or recovering taxes, penalties and interest in respect of previous years up to and including the 2017 year of assessment.
The Bill suggests to waiving the payment of taxes, penalties and interest in respect of prior years of assessment up to and including the 2017 year of assessment for defaulting taxpayers that register with the Ghana Revenue Authority on or before 30 September 2018, provided they file income tax returns for the 2014, 2015 and 2016 years of assessment.
The Bill also waiving penalties and interest due on unpaid taxes for prior years of assessment up to and including the 2017 year of assessment, provided that, on or before 30 September 2018, the defaulting taxpayer submits a return or an amended return containing a full disclosure of all previously undisclosed liabilities up to the 2017 year of assessment and pays all assessed and outstanding taxes thereon.
The Scheme further provides an exemption from prosecution in respect of unpaid taxes. Payments and returns due from 1 January 2018 are excluded from the scope of the Scheme.
