Ghana to use mobile portal to get transfer pricing documentation is the latest move by the Ghanaian government under the aegis of the Ghana Revenue Authority (GRA).
Beyond the ease for taxpayers, this move is coming to consolidate the earlier introduction of an online portal by the GRA last year. This online platform allows taxpayers to file their transfer pricing (TP) returns from any location.
The move of this mobile portal coming onboard was recently revealed by Moses Yidana, Head of the Transfer Pricing Unit at the Ghana Revenue Authority (GRA) with an expression of bringing improvement to tax collection.
Mr. Yidana further emphasized that these measures spotted by the Ghanaian Government will help to ensure a seamless tax administration by also supporting businesses to thrive. He revealed this at the recently concluded Ghana Chamber of Commerce (UKGCC) and PwC Ghana webinar
He also touched on the fact that Ghana is also making progress in its efforts to join the Organisation for Economic Cooperation and Development (OECD) multilateral agreement platform. It is important to state that this platform aims to facilitate Country-By-Country Reporting (CBCR) data sharing.
Ghana To Use Mobile Portal: More Perspective
The adoption of a mobile portal in the administration of Transfer Pricing in Ghana is only a one off of the numerous strategic implementations by the GRA to ease up its procedures.
Other measure implemented include the “No Value-Added transactions.” Under this rule, taxpayers may not need to submit certain documents like local and master files if the markups on fees charged are less than 3 percent.
Additionally, if the transactional values are below the equivalent of USD 200,000.00 in Cedi, taxpayers are also exempt from submitting local and master files.
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