High Net Worth Unit News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The question of “Selective Prosecution” has been asked since 2007 when the South African Revenue Service (“SARS”) started using Lifestyle Audits on private individuals. The selection basis, was the means of the individual, in contrast to their standard of living, and was conducted on individuals where there was a suspicion of criminal activity. With the introduction of the High-Net Worth Unit, Edward Kieswetter, commissioner of SARS, noted in the National Tax Indaba of September 2021, that SARS’ position is to focus on collecting the “lowest hanging fruit&rd...

The aim of the Compliance Handbook is to give you clear and comprehensive guidance to help you and external customers understand and apply the penalties and compliance powers introduced by FA 2007 to FA 2013. The guidance is in two sections: The technical guidance (CH1 - CH199999) explains the legislation and the overall policy about the way it should be applied. The operational guidance (CH200000 onwards) explains how to use the penalties and powers in your job. We are still developing this manual and we will add further guidance as it is produced for all compliance matters, both technical an...

GRA sets ambitious GH¢60bn revenue target for 2021 The Acting Commissioner-General of the Ghana Revenue Authority (GRA), Reverend Ammishaddai Owusu-Amoah, says his outfit has projected  to collect revenue amounting to GH¢60 billion for the 2021 fiscal year. The revenue target constitutes a 32.3% increase over the 2020 actual collection of GH¢45,338.69. Meanwhile, the Authority initially budgeted to collect a total tax revenue of GH¢47,253.95 million for the 2020 fiscal year, which represents a 7.6% growth over the actual tax revenue collections of GH¢43,907.12 million for the 2019 fisca...