Provision of a rebate of 30% on the income tax due for companies in hotels and restaurants, arts and entertainment, and travel and tours for the 2nd, 3rd and 4th quarters of 2021.
Suspension of quarterly tax installment payments for the 2nd, 3rd and 4th quarters using the income tax stamp payments.
Waiver of penalties and interest
This is to reduce cash flow challenges for companies and individuals who arrange to pay the principal by September 2021.
Proposed Taxes & Levies
COVID-19 Health Levy
1% increase in NHIL 1% increase in VAT Flat Rate
Sanitation and Pollution Levy
10 pesewas on the price per litre of petrol/ diesel
Energy Sector Recovery Levy
20 pesewas per litre on petrol/ diesel
MASLOC will disburse GHC 50,400,000 in Micro and Small Loans and GHC 30,000,000 in Tricycle and Vehicle Loans
SOURCE: MINISTRY OF FINANCE, GHANA