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LANDLORDS AND LANDLADIES TO START PAYING TAXES ON RENT SOON – GRA

Landlords and landladies will be paying taxes on the rent advance they take from tenants soon, the Commissioner-General of the Ghana Revenue Authority (GRA), Rev. Ammishaddai Owusu-Amoah has revealed.

According to the GRA boss, his outfit will begin implementing rent tax before the end of 2021.

The Commissioner opined that businesses liable to pay Rent Tax include businesses or individuals who receive income from letting or leasing a property and an agency that qualifies to withhold tax.

For the good of everyone, we have introduced the Rent Tax App which has everyone’s data on it. If your name is searched the app will take us directly to your location and then when we get there we will be able to identify whether the property is owner-occupied or rented. This will not make it possible for anyone to hide from paying your taxes. If you have a property you are renting, start paying the rent tax. We should all be compliant with this new ideology. Currently, we have started implementing the app in the Accra, Kumasi, Tema areas,” he said.

Rent income accrues to someone as a result of letting or leasing a property to another person. The tax paid on rental income is referred to as Rent Tax. Rent Tax must be paid within 30 days after the rent income is received by landlords or property owners.

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