Executive Secretary of the American Chamber of Commerce, Ghana, Simon Madjie, has advocated for the speedy implementation of the Independent Tax Appeals Board to ease the litigation burden on businesses.
Speaking on the Joy Business News program on Thursday, March 18, Mr. Madjie said the speedy implementation of Act 1029, which establishes the Tax Appeals Board, will enhance the ease of doing business in the country and save time spent on litigation as affected parties can seek quick resolution from this independent body.
‘Our members believe the speedy implementation of the revenue administration amendment act, 2020, Act 1029, which is the Independent Tax Appeals Board will help businesses in determining appeals against decisions of the Commissioner-General of the GRA and will ultimately help enhance the ease of doing business in Ghana. It will save them time from running to court but rather going to this independent institution to have their tax issues adjudicated,’’ he said.
The Revenue Administration (Amendment) Act, 2020, Act 1029 (the Act) was passed into law by Ghana’s Parliament and assented to by the President on 6 October 2020. The Act establishes an Independent Tax Appeals Board (ITAB) whose functions, among others, are to hear and determine appeals against decisions of Ghana’s Commissioner-General (CG) with respect to objections to tax decisions under the Revenue Administration Act, 2016, Act 915 (as amended) (RAA). It also addresses a shortfall in tax liability without payment of a penalty and other related matters.
The call for speedy implementation of Act 1029 is imperative as businesses move into recovery in order to resume full operations post COVID-19 and will need a favorable business environment to return to normalcy.