The Ghana Revenue Authority, GRA will before the end of this year be implementing a new tax known as the Rent Tax.
According to the Authority to effectively mobilize taxes from the rent tax, an App has been developed to aid in the collection of the said taxes.
Commissioner-General of GRA Reverend Ammishaddai Owusu-Amoah said failure to pay tax on rent income by the due date will attract an interest of 125 percent on the statutory rent rate and compounded monthly.
Rev. Owusu-Amoah explained that when fully implemented, the rent tax must be paid within 30 days of receipt of rent income by landlords or property owners.
