The Ghana Revenue Authority (GRA) has recovered in excess of $93 million from multinational and local companies operating in the country through its Informant Reward Scheme (IRS).
In addition, the Authority had also retrieved an amount of GH¢421 million cedis.
Speaking to journalists on the revival campaign for the GRA informants reward scheme in Accra on Saturday, Acting Head of Intelligence at the GRA, Mr Wisdom Xetor, noted that this was an indication that the Informant Reward Scheme was effective and must be encour-aged among citizens.
"We have recovered more than GH¢421 million cedis as well as $98 million so far even before the year ends, so I think the scheme is yielding results and many are providing informa-tion that is leading to recovery of these taxes that could have been lost if this avenue is not provided for them to give information to us about the improprieties relating to tax payments in the country" he said.
He said the amount retrieved could have been lost as a result of the firms' unwillingness to pay until the intervention of those in-formants who used the Informant Application system to draw the attention of the Authority, adding that the respective informants had been rewarded handsomely for the initiative.
Mr Xetor said the IRS "Is a means of rewarding individuals, entities or organisations who offers information to the GRA on persons who commit offences or companies under the tax laws of Ghana."
He said the information was relied upon to enforce compliance with the tax laws, adding that the information was often relied upon to determine whether a person was registrable as a taxpayer, whether a taxpayer filed his tax returns or, whether the correct amount of tax had been declared and paid.
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Mr Xetor noted that "Informants whose information lead to recov-ery below GH¢2,500,000 be paid 25 per cent of interest or penalties capped at GH¢25,000 and where the amount exceeded GH¢2,500,000, a one- percent of total collections capped at up to GH¢250,000."
He said the situation where the amount recovered exceeds GH¢25,000,000, Top Management in consultation with the Board deter-mine the amount to be paid.
"But in the event where there are no penalties and interest and the amount recovered is less thanGH¢2,500,000 a flat payment of between GH¢5,000 to GH¢25,000 will be paid as Commissioner-Gen-eral deems fit," Mr Xetor stated.
He said the GRA was hopeful that many would volunteer information that would lead to the recovery of more taxes for the state.
