A Tax Analyst, Francis Timore Boi, has lauded the government’s move to introduce the Vehicle Income Tax (VIT).. The Ghana Revenue Authority (GRA) announced that effective January 1, 2024, ride-hailing...
A Tax Analyst, Francis Timore Boi, has lauded the government’s move to introduce the Vehicle Income Tax (VIT).
.The Ghana Revenue Authority (GRA) announced that effective January 1, 2024, ride-hailing vehicle owners will be taxed.
.Timore Boi insisted that the Vehicle Income Tax was necessary to generate much-needed revenue for the government.
.“I think it’s perfectly in the right direction; for me, it’s long overdue because commercial car owners are supposed to pay tax since they earn income
Because these private cars have not been branded as commercial, they never pay for the Vehicle Income Tax
The Ghana Revenue Authority (GRA) on December 21 issued a notification to ride-hailing vehicle owners regarding the implementation of a new tax policy called the Value Income Tax (VIT), effective from January 1, 2024.
As per Section 22 of Regulations 2016, LI 2244, the GRA specified that “any commercial vehicle owner that earns income from the operation of a commercial vehicle shall pay income tax quarterly.”
