Tax expert endorses gov’t’s strategy to close revenue gap …through taxation of foreign income

Abeku Gyan-Quansah, a tax partner at PwC Ghana, has expressed support for the government's decision to utilize taxes on the foreign income of resident Ghanaians in order to address the GH¢1.8 billion revenue gap resulting from the suspension of the VAT on electricity. According to the Ghana Revenue Authority (GRA), this initiative represents an extension and reinforcement of the existing tax framework outlined in the Income Tax Act 2015, Act 896, specifically in sections 3A and 111, which govern the taxation of worldwide income for resident companies and individuals. In an interview with Business24/Investment Times conducted over the phone, Mr....
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