Revenue Administration (Amendment) Act, 2025 (Act 1129)

ARRANGEMENT OF SECTIONS

Section 69 of Act 915 amended

LONG TITLE

AN ACT to amend the Revenue Administration Act, 2016 (Act 915) to reduce the percentage of the total revenue that is set aside by the Minister in the Ghana Revenue Authority General Refund Account and provide for related matters.

DATE OF ASSENT

2nd April, 2025.

ACT

Section 69 of Act 915 amended

The Revenue Administration Act, 2016 (Act 915) is amended by the substitution for section 69, of

"69. Ghana Revenue Authority General Refund Account

(1) The Minister shall set aside an amount of not more than four per cent of the total revenue collected under this Act and any other enactment administered by the Commissioner-General, in an account designated as the "Ghana Revenue Authority General Refund Account".

(2) The Ghana Revenue Authority General Refund Account shall, only, be used by the Commissioner-General to make payments for

(a) refunds due under this Act; and

(b) refunds due under any other tax law.

(3) Where at the end of a calendar year there is an amount outstanding as a credit in the Ghana Revenue Authority General Refund Account after refunds certified by the Commissioner-General have been paid, the outstanding amount shall be paid into the Consolidated Fund by the Commissioner-General in accordance with the Public Financial Management Act, 2016 (Act 921) and the Public Financial Management Regulations, 2019 (L.I. 2378).".