Government To Tax Rent Paid To Landlords

Rentiers and landowners will currently be required to pay 8% in charge on the monies they get for leasing private and non-private facilities and premises.

This was contained in a discourse conveyed by the Commissioner-General of the Ghana Revenue Authority (GRA), Rev Ammishaddai Owusu-Amoah, toward the finish of last week.

The Commissioner-General was talking at the Ghana Financial Intermediation Awards supper. He showed that the goal of his outfit is in accordance with existing laws and will be executed before the year’s end.

While private land owners are required to 8% on the sums they get, rentiers of non-private facilities and spaces will pay 15% on lease earnings.

As per the GRA’s site, “[t]he charge paid on lease pay is alluded to as Rent Tax. Lease Tax should be paid inside 30 days after the lease pay is gotten”.

“To benefit everybody, we have presented the lease charge application which has everybody’s information on it, if your name is looked the application will take us straightforwardly to your area and afterward when we arrive we will actually want to recognize whether the property is proprietor involved or leased,” said Rev Owusu-Amoah.

As per him, directing of the application has effectively started in metropolitan regions like Accra, Tema and Kumasi. Land owners are required to join on the application, giving the subtleties of their properties and thus record their installments electronically.

On the other hand, land owners could visit any Domestic Tax Revenue Division Office and parts of banks to document their lease charges.

“Inability to pay your expense on lease pay by the due date will draw in a premium of 125% of the legal rate accumulated month to month. Make sure to make accessible duplicates of all receipts of installment of lease charge for examination by officials of [the GRA],” the country’s central expense official cautioned.

Leases and duties

This is the second time somewhat recently that specialists at the GRA have taken elaborate measures to have the lease charge carried out. In 2013, the GRA endeavored to authorize the law which had been in the books for some time, because of a public clamor against the significant expense of private convenience in metropolitan regions.

The GRA at the time trusted the assessment would constrain rentiers and property managers to renege on requesting tremendous leases just as remind “landowners and landlords to play out their urban obligations”.

At that point, there were fears that land owners would expand their requests to settle the burden brought to them by the lease charge.

Different proposition to capture raising rent costs in metropolitan regions lately have either not been authorized by governments or fizzled in turning out certain outcomes.

In the runup to the overall appointment of 2020, the New Patriotic Party (NPP) guaranteed the systematization of a National Rental Assistance Scheme.

The plan was relied upon to make advance lease installments in the interest of working Ghanaians who might then repay the plan.

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