Ride-hailing vehicle owners to pay Value Income Tax from January 1

The Ghana Revenue Authority (GRA) has issued a notification to operators of ride-hailing vehicles, informing them of the implementation of a new tax policy known as the Value Income Tax (VIT), effective from January 1, 2024.

In accordance with Section 22 of Regulations 2016, LI 2244, the GRA has specified that “any commercial vehicle owner earning income from the operation of a commercial vehicle shall pay income tax quarterly.”

The Authority has recommended that ride-hailing companies such as Uber, Yango, and Bolt, operating in Ghana, update their digital platforms to incorporate the new tax requirements.

Compliance guidelines include acquiring a softcopy of the VIT sticker, verifying the sticker’s authenticity with the GRA, and submitting a quarterly list of all vehicles on their platforms to the GRA.

Source:Omanghana.com