Ghana: GRA proposes new tax policy under MTS

The Ghana Revenue Authority (GRA) is proposing to extend the Modified Taxation Scheme (MTS) to qualifying small limited liability companies with annual turnover of up to GH¢750,000.

The proposed reform is aimed at making the tax system more responsive to the realities of small businesses and reducing the compliance burden on enterprises that choose to formalise their operations.

Under the proposal, eligible businesses operating as individuals, sole proprietorships, partnerships or limited…