Ghana’s parliament scraps taxes on covid-19 donations
Donations of stocks of equipment and goods as relief supplies for the fight against the COVID 19 outbreak will no longer attract taxes.
Parliament, this afternoon, approved tax waivers to scrap taxes such as 15% value added tax (VAT), 2.5% National Health Insurance Levy (NHIL) and 2.5% GETFund levy on COVID 19 donations.
The law makers believe the incentive will encourage individuals, corporate bodies and institutions to donate towards the fight against the Covid-19 pandemic.
In a related development, the House has also approved the Income Tax Amendment Bill 2020 to waive taxes on withdrawals from third-tier Provident Funds and Personal Pension Schemes.
Prior to the approval today, withdrawals from these funding before their maturity attracted a 15% income tax if withdrawn b...