The Millions of Cedis Lost by the Ghana Revenue Authority.
Written by Saltfmonline.com on December 12, 2018
The Ghana Revenue Authority has over the years, been losing huge sums of money totaling to several millions of Cedis.
As the designated revenue collection agency mandated to collecting taxes from individuals and organizations in the Ghanaian landscape, it has failed woefully in the collection of Property Tax.
A tax charged on every real estate property and payable to the Internal Revenue Service, has been over the years not vibrantly pursued.
The Domestic Tax Revenue Service, the division of the Ghana Revenue Authority (GRA) which is mandated to collect these taxes levied on every real estate and domestic property, has been overly ineffective in putting elaborate systems in place to track and collect such monies.
Some reasons given as a precursor to the situation of the constant failure to effectively collect these monies is the issue of effective valuation of properties and more seriously, the lack of skilled manpower and resource to track properties and subsequently collect these taxes. The end product being the loss of a sizable sum of tax revenue to the state.
The implementation of the Luxury Vehicle Levy Act by the Government of Ghana recently led to the recollection of information from an anonymous informer: of a Luxury House on sale by Star Properties and Property Management labeled the “Star Home”. The luxury vehicle act requires that owners of vehicles with engine capacity of 2950 Cubic Centimeters and more to pay an annual tax on their vehicles.
THE STAR HOME
A subsidiary of the Silver Star Tower Limited which is a fully furnished Luxury apartment by all definitions located at Community 8 of the Lakeside Estate in Madina which boast of:
4 Bedrooms, 4 Washrooms, a Modern Kitchen, A private Den (convertible to an in-house office), a Great Hall using an earth-sky window, a Swimming Pool and Lounge, a 2 Bedroom Workers Quarters and has a Smart ICT Integrated System.
SMART ICT SYSTEM:
This system boasts of a remote-controlled sliding gate, a Hi-Vision HDTV Security Camera Monitoring System (Hi-Tech CCTV), an Intercom, a Smart Home Security System, Fiber-Optic Internet (4.5 G), a full Led Lighting System, and Backup Power.
BACKUP POWER SYSTEM:
Comprises a 6,000-Watt Solar Panel, A Digital Inverter of 8,000-Watt and a changeover switch which means the buyer gets a “dumsor-free pass”.
The specifications of the house qualifies it as an “over-luxury house” because the term “luxury” used in its description, is an understatement. Sources disclosed that the Star Home is on sale at 500,000$, a reflective sum of 2, 485,050.00 GHS which is a cool deal for any buyer.
It is rumored that Mr. Salah Kweku Kalmoni, the executive director of the Silver Star Tower, Lakeside Estate and also the Director of Japan Motors all of which are part of the Kalmoni Group of Companies, has given indications of buying the “Star Home”.
The dilemma then remains that, if the Ghana Revenue Authority (GRA) having introduced taxes on luxury vehicles can track these, what prudent steps are being put in place to ensure that taxes from such home sales and other real estate properties, are tracked and the monies collected to curtail further losses of the much-needed income to the State.
Submitted by: Zuta TEYE Isaac