Covid-19 Support: Taxi And Trotro Drivers Won’t Pay Income Tax Anymore
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As part of measures to mitigate the effects of the deadly coronavirus pandemic in Ghana and to ease the stress of this novel Covid-19, the government of Ghana in it’s Budget statement seeks to give a a sigh to taxi and trotro drivers even as they are captured in the 2021 budget.
Pending approval from parliament, it is captured in the 2021 budget that taxi drivers and trotro drivers would not be taxed in the second, third and fourth quarters of 2021 with regards to Vehicle income tax. Below is section of the 2021 budget that throws more light on the relief;
COVID-19 Support
117. Mr. Speaker, Government in 2020 outlined a number of initiatives to cushion the effect of the pandemic on the populace. Some sectors of the economy and sections of the population, however, continue to suffer the devastating consequences of the pandemic. Government is therefore rolling out these additional reliefs for different sections of the population especially those hardest hit by the pandemic.
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• Tax Rebate: Provision of a rebate of 30 percent on the income tax due for companies in hotels and restaurants, education, arts & entertainment, and travel and tours for the second, third and fourth quarters of 2021;
• Tax Stamps: Suspension of quarterly income tax instalment payments for the second, third and fourth quarters of 2021 for small businesses using the income tax stamp system;
• Vehicle Income Tax: Suspension of quarterly instalment payments of the vehicle income tax for the third and fourth quarters of 2021 for Trotros and Taxis as part of measures to reduce the cost of transportation;
• Extension of the waiver of interest as incentive for early payment of accumulated tax arrears: A waiver of penalty and interest on accumulated tax arrears up to December 2020 to reduce cash flow challenges for companies and individuals who arrange terms with GRA to pay up the principal by September 2021.
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By: Nana Gyasi | Radio 1 | Ghana