The government
is set to announce measures aimed at easing the burden of salaried workers in
the wake of soaring inflation and general cost of living.
It
also plans to extend some tax reliefs for businesses in a bit to stimulate
economic activities while encouraging increased tax compliance.
Graphic
Online understands that some of the tax waivers and reliefs that elapsed on
June 30 would be extended till the end of the year.
The Finance
Minister, Mr Ken Ofori-Atta, is set to announce the extension when he appears
before Parliament this afternoon to present his sixth in a row mid-year budget
review.
Income taxes
It
is understood that the minister would announce the suspension of the quarterly
payments of income tax installment by individuals using the income tax stamp.
Mr Ofori-Atta
would also announce the suspension of the installment payment of vehicle income
tax (VIT) on selected vehicles, including intracity commercial vehicles,
popularly known as trotros.
Taxis
and intercity/long distance buses would also be covered under the policy.
Waiver
The
sources said the waiver of interest and penalty on tax arrears up to December
2020 for all category of taxpayers would also be reinstated to run till
December this year.
It
is however, expected to be limited to taxpayers that file their returns and pay
the principal.
Source:graphic.com.gh