Three of the government’s new taxes have taken effect, beginning today, Saturday, May 1, 2021.
These new taxes are as a result of the imposition of an Energy Sector Recovery Levy of GHS 20 pesewas per litre of petrol/diesel and 18 pesewas per kg on Liquefied Petroleum Gas (LPG) and a Sanitation and Pollution Levy of GHS10 pesewas per litre of petrol and diesel.
Also taking effect is the COVID-19 Health Recovery Levy Act, 2021 (Act 1068) and the Energy Sector Levy (Amendment) Act, 2021 (Act 1064).
In an earlier statement, the Ghana Revenue Authority (GRA) noted that Parliament had passed these new tax laws.
The COVID-19 Health Recovery Levy Act “imposes a one percent levy on the supply of goods and services made in the country, other than exempt goods or services and the import of goods and services, other than exempt imports”.
The levy also applies to the supply of goods subject to the VAT Flat Rate but is not allowable as an input tax deduction.
Parliament is said to have amended two existing laws to be implemented later in the year.
These are the Penalty and Interest Waiver Act, 2021 (Act 1065), COVID-19 Health Recovery Levy Act, 2021 (Act 1068), Financial Sector Recovery Levy Act, 2021 (Act 1067), Energy Sector Levy (Amendment) Act, 2021 (Act 1064) and the Income Tax (Amendment) Act, 2021 (Act 1066).