In Accra, a significant shake-up awaits the bustling streets, as Ghana's tax authorities roll out the Value Income Tax (VIT), disrupting the ride-hailing industry from January 1, 2024. Under Section 22 of Regulations 2016, LI 2244, the Ghana Revenue Authority (GRA) takes charge, mandating quarterly income tax payments for commercial vehicle owners in the popular ride-hailing services like Uber, Yango, and Bolt.
The GRA's aim is to ensure the sector contributes proportionately to national revenue. Ride-hailing companies must swiftly adapt by updating their digital platforms, acquiring a digital VIT sticker for compliance, and submitting quarterly vehicle lists to the GRA.
The January 1, 2024 enforcement deadline signals the gravity of this tax reform, placing ride-hailing giants in uncharted territory as they race against time to integrate these changes. As vehicle owners grapple with the impact, the Ghanaian public keenly watches how this move will influence the affordability and accessibility of ride-hailing services in their daily lives.
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