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GRA educates GREPA on taxes

GREPA Office (Membership) | Published on 3/14/2022

The Ghana Revenue Authority (GRA) has held a two-day education to their members of the Ghana Real Estate Professionals Association on taxes related to the real estate industry.

The series of training which began Friday 4th of March 2022 saw GREPA members excited about Ghana's tax regime.

The real estate professionals have over the past decade been advocating for legislation and a regulatory body for the real estate industry.

Thankfully the real estate agency act 1047 got passed in December 2020, which serves as the background for which these industry professionals are committed to perform their civic responsibility, knowing that the industry taxes presents an opportunity for its professional members to become familiar with their tax obligations.

The first session concluded with a highly attended lecture at the GREPA Secretariat in East Legon where participants were very impressed with the knowledge acquired from the training.

Some expressed gratitude to the GRA for clarifying issues surrounding withholding taxes. The second session also came off on 10th March 2022 focusing on the different tax elements including Capital Gains Tax.

In the end, some of the participants reiterated the need for GRA to customize motivational tax packages and low-rate tax incentives to encourage wider spread of the tax net.

The Ghana Real Estate Professionals Association (GREPA) is looking forward to another exciting learning experience.

By Victoria Sampah