The Ghana Revenue Authority (GRA) has taken to its official Twitter page to remind the general public of their o ligation to pay tax on items received as gifts.
According to the laws of Ghana, citizens are obliged to pay Gift Tax on items they receive from loved ones and famy on auspicious day.
Gift tax according to Income Tax Act, 2015 Act 896, is when a person receives a gift in respect of their employment, business, and/or investment other than under a will, upon intestacy or by way of transfer to the spouse, child or parent of that person. Any such gift is taxable under the income tax law.
The need for the education came up after a viral video captured a social media influencer giving a huge amount of money to her best friend as a birthday gift.
CEO of Dulce Emporium, Dulcie Boateng, decided to give her best-friend GHS 50,000 cash on her birthday and it drew the attention of many online.
GRA took the opportunity to call on her to render account of the gift received and also pay a percentage as tax to the government of Ghana.
Using their Twitter handle, they wrote the below.