FILLING OF TAX RETURNS FOR THE YEAR OF ASSESSMENT 2009 – BUSINESSES AND OTHERS TO NOTE

The Commissioner reminds all taxpayers, especially businesses whose accounting date falls on 31st December, all self – employed persons and property owners who derived income from rent in 2009 to furnish a Return of Income and Return of Properties and Rent Incomes for the Year of Assessment 2009 by 30th April 2010.

The return of income must be accompanied by

·         Statements of income and expenditure

·         Statements of assets and liabilities for each business undertaking carried on in 2009

Employers are to file returns for their employees by 31st March, 2010.

The Return of Income shall include a declaration that the return is complete and accurate and signed by the person making the return.

Income Tax Return Forms and Return of Properties and Rent Incomes are available at all IRS District Offices throughout the country.

Taxpayers are to note that failure to furnish a Return of Income within the time stipulated attracts a penalty of GH¢12.00 for companies and GH¢6.00 for self – employed persons in respect of each day during which the default continues. (Act 592 Section 142 as amended).