Penalty and Interest Waiver (Amendment) Act, 2021(Act 1073)

ARRANGEMENT OF SECTIONS

1. Section 1 of Act 1065 amended

2. Section 2 of Act 1065 amended

3. Section 4 of Act 1065 amended

4. Section 9 of Act 1065 amended

PURPOSE

AN ACT to extend the period for application for a waiver of penalty and interest on accumulated tax arrears up to 31st December, 2020 for persons who make arrangements with the Ghana Revenue Authority for payment of the principal tax to 30th June, 2022 and to provide for related matters.

DATE OF ASSENT

30th December, 2021.

ACT

1. Section 1 of Act 1065 amended

The Penalty and Interest Waiver Act, 2021 (Act 1065) referred to in this Act as the "principal enactment", is amended in section 1 by the substitution for subsection (1) of

"(1) Where a person, on or before 30th June, 2022

(a) pays tax arrears to the Ghana Revenue Authority, and

(b) files outstanding returns in respect of the previous years up to 31st December, 2020

the Commissioner-General shall not recover assessed penalty and interest on the tax arrears paid in respect of the relevant period.".

2. Section 2 of Act 1065 amended

The principal enactment is amended by the substitution for section 2 of

"2. Conditions for waiver of penalty and interest

Where a person, on or before 30th June, 2022

(a) submits returns or amended returns, containing a full disclosure of undisclosed liabilities up to 31st December, 2020 and pays or makes the necessary arrangements to pay all resulting taxes, or

(b) pays or makes the necessary arrangements to pay assessed and outstanding taxes

the Commissioner-General shall not recover assessed penalty and interest on the tax paid or tax due or commence prosecution or an enforcement action in respect of the person.".

3. Section 4 of Act 1065 amended

The principal enactment is amended by the substitution for section 4 of

"4. Application for waiver

A person who qualifies for a waiver under section 3 shall, during the period commencing from 1st April, 2021 and ending on 30th June, 2022, submit

(a) a written application in the form and manner determined by the Commissioner-General, and

(b) the returns required under section 1 to the Commissioner-General at the address specified by the Commissioner-General.".

4. Section 9 of Act 1065 amended

The principal enactment is amended by the substitution for section 9 of

"9. Reporting

The Commissioner-General shall submit to the Minister

(a) an end of year report indicating waivers granted as at 31st December, 2021; and

(b) a final report on total waivers granted as at 30th June, 2022.".