A little over a week since the Ghana Revenue Authority (GRA) decided not to accept personal and corporate cheques for the payment of taxes and levies in any of its offices, President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng says businesses are hopeful the move will help government achieve its revenue targets.

He also hopes the initiative will lead to a reduction in the tax burden on businesses.

The GRA from June 1st 2021, stopped accepting cheques for the payment of taxes and levies in any of its Domestic Tax Revenue Division or Customs Division offices, as part of efforts aimed at making the GRA more digital.

Speaking to Citi Business News on the impact on businesses, Dr. Obeng said digitalization of tax collection is the way to go.

“This the new norm when it comes to payment for individuals and businesses. I believe that we have to accept it and take advantage of it, especially if it will also help government enhance its revenue mobilization efforts.”

“At the end of the day if they are able to achieve their targets we can also be spared of the high rate of taxes that we pay,” he added.

Source: citibusinessnews.com