View source for Special Petroleum Tax Act, 2014 (Act 879)

==ARRANGEMENT OF SECTIONS==
:1. Imposition of tax
:2. Rate of tax
:3. Collection of tax
:4. Payment of tax into Consolidated Fund
:5. Interpretation

==LONG TITLE==
AN ACT to impose a Special Petroleum Tax on selected petroleum products and to provide for related matters.

==DATE OF ASSENT==
19th November, 2014.

==ACT==

====1. Imposition of tax====
(1) There is imposed by this Act a tax to be known as the Special Petroleum Tax.

(2) A person licensed to operate as an oil marketing company under the [[National Petroleum Authority Act, 2005 (Act 691)]] shall charge a Special Petroleum Tax on each supply of a petroleum product specified in the Schedule.


====2. Rate of tax====
The rate of the tax is seventeen and a half percent, to be calculated on the ex-depot price of the petroleum product.


====3. Collection of tax====
(1) The Ghana Revenue Authority shall collect the tax.

(2) The Value Added Tax Act, 2013 (Act 870) applies with necessary modifications to the collection of the tax.


====4. Payment of tax into Consolidated Fund====
The Commissioner-General shall pay all taxes, interests and penalties collected under this Act into the Consolidated Fund in accordance with financial administration enactments.


====5. Interpretation====
In this Act, unless the context otherwise requires,
:'''“Commissioner-General”''' means the Commissioner-General appointed under section 13 of the Ghana Revenue Authority Act, 2009 (Act 791);
:'''“ex-depot price”''' means the price which includes the ex-refinery price, the price stabilization margin and taxes and levies at which a given quantity of a petroleum product is sold at a depot;
:'''“financial administration enactments”''' mean the Financial Administration Act, 2003 (Act 654) and the Financial Administration Regulations, 2004 (L.I. 1802);
:'''“Ghana Revenue Authority”''' means the Ghana Revenue Authority established under the Ghana Revenue Authority Act, 2009 (Act 791);
:'''“supply of a petroleum product”''' means an arrangement under which a person licensed to operate as an oil marketing company under the National Petroleum Authority Act, 2005 (Act 691), parts with possession of the petroleum product by way of sale, barter, lease, transfer, exchange, gift or similar disposition; and
:'''“tax”''' means the Special Petroleum Tax imposed under section 1.


====SCHEDULE ''(Section 1(2))'' - Petroleum Products====
1. Petrol

2. Diesel

3. Liquefied petroleum gas

4. Natural petroleum gas

5. Kerosene