Chris Infotainment

Rising Surface Rental Arrears in Ghana’s Petroleum Sector Surface rental arrears in the petroleum sector have surged significantly, reaching US$2.82 million by mid-2025. This figure marks a substantial increase compared to the previous year, where arrears stood at US$439,011 during the same period. The Public Interest and Accountability Committee (PIAC) highlighted this trend in its half-year report, noting that collections had risen by 14.3 percent above the Ghana Revenue Authority’s (GRA) full-year estimate of US$755,235. By the end of June 2025, GRA collected US$863,046 in surface rentals, which is one of the five primary revenue streams from the petroleum sector. The increase was largely attributed to payments made by several companies, including Goil Upstream Limited, Springfield E&P, OPCO, and Base Energy. However, out of the 13 licensed operators, only eight made payments during the reporting period. Enforcement Measures and Defaulting Companies The PIAC reported that GR...

Introduction to the Electronic Rental Income Tax System (eRITS) The Kenya Revenue Authority (KRA) has launched a new electronic platform aimed at simplifying the process of collecting rental income tax and improving compliance among landlords and property owners. This initiative, known as the Electronic Rental Income Tax System (eRITS), was announced in a public notice dated September 25, 2025. The system is designed to make it easier for individuals earning rental income to file and pay their taxes on a monthly basis. Key Features of eRITS The eRITS platform offers several benefits that are expected to streamline the tax collection process. It allows users to manage their property details, file returns, and make payments with greater efficiency. The system can be accessed through two main channels: the official website at https://erits.kra.go.ke or via the eCitizen portal. Landlords and property owners are encouraged to update or correct their property information on the new platfo...