Ghana: Tax measures in 2021 budget

The 2021 budget statement and economic policy includes tax revenue proposals

The 2021 budget statement and economic policy includes tax revenue proposals

The 2021 budget statement and economic policy, passed by the Parliament and having received presidential assent on 31 March 2021, includes tax revenue proposals.

The tax provisions include energy sector tax levies imposed on specified petroleum products.

There are also measures allowing for waiver of penalties and interest on accumulated tax arrears up to 31 December 2020 for taxpayers that make arrangements with the Ghana Revenue Authority to pay the outstanding tax principal by 31 December 2021. To be eligible for the penalty and interest-relief provisions, the taxpayer must file a written application with the tax authority with tax returns by 30 September 2021.

Read an April 2021 report prepared by the KPMG member firm in Ghana

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.