The Takoradi office of the Ghana Revenue Authority at the weekend organised a sensitisation workshop on Self-Assessment for businesses within the Sekondi/Takoradi Metropolitan Area.
The Self-assessment workshop was to expose them to the rudiments of how businesses could calculate or estimate their earning throughout the year and therefore pay the appropriate taxes to the revenue body.
Mr Peter Ben Baah, the Director of the Takoradi Small Tax Office said it was relevant that small tax payers were enrolled into the self-assessment especially customers who had consistently filed their tax returns and had good records keeping.
He said allowing the businesses to do self-assessment and estimates did not end there, but the Commissioner General had the overall say of rejecting the estimates or calculating a new one for such a business.
Mr Baah said any wrong estimates presented to the Commission could attract some penalties including; compound interest, a jail sentence among others.