Your decision to impose VAT on power consumption is counterproductive – Prof. Adei tells government
By: Franklin ASARE-DONKOH A former Board Chair of the Ghana Revenue Authority (GRA) under the Nana Addo Dankwa Akufo Addo-led government, Prof. Stephen Adei, says the New Patriotic Party (NPP) led administration’s decision to impose Value Added Tax (VAT) on power consumption is counterproductive. He has, therefore, kicked against the newly introduced VAT on electricity […]
Non-issuance of VAT invoice is a criminal act – GRA
The Ghana Revenue Authority (GRA), compliance and enforcement unit, says the non-issuance of Valued Added Tax (VAT) invoice is a criminal offence and can lead to prosecution. The Authority said tax defaulters could be charged under sections 78 and 82 of the Revenue Administration Act, 2016 (Act 915) that focus on failure to comply with […]
GRA’s implementation of 10% withholding tax on betting, lottery winnings begins August 15
The Ghana Revenue Authority (GRA) has announced that it will begin implementing a 10% withholding tax on all gross gaming winnings from August 15, 2023. The GRA explained that the withholding tax will be charged on profits accrued after each win and that the existing 15% Value Added Tax (VAT) rate on each stake will […]
GRA’s 12.5% VAT upfront payment for non-registered VAT importers begins June 6
By: Franklin ASARE-DONKOH The Ghana Revenue Authority (GRA) will from Tuesday, June 6, 2023, impose an upfront payment of 12.5 percent (12.5%) tax on the value of goods imported by persons or companies who are yet to register for Value Added Tax (VAT) with the Authority. According to the management of GRA, importers of taxable […]
Minority vows to reject 2.5 % increase in VAT
By: Franklin ASARE-DONKOH The Minority Caucus in Parliament has vowed to reject a proposed 2.5% increase in Value Added Tax (VAT) by the government. The Minority led by Mr. Haruna Iddrisu at a Press Conference held on 5th December, 2022 at the Speaker’s Block -Committee Room 1&2 near Parliament House reiterated it resolve to kick […]
We will not support crippling business taxes- Traders at Adum
By: Nicholas Osei-Wusu, Kumasi Store Operators at Adum in Kumasi say even though they are ever ready to comply with the tax regimes of the country, they will not support implementation of any tax policy that has the potential to cripple their businesses. Addressing the media in Kumasi on Wednesday October 12, 2022, the store […]
GRA closes China Mall Shopping Centres for non-compliance with tax laws
SOURCE: GNA Enforcement Officials of the Ghana Revenue Authority (GRA) has closed four branches of the China Mall Shopping facilities in Accra for non-compliance of the e-invoicing system for Value Added Tax (VAT) introduced by the Authority. The Authority rolled out the e-invoicing system for VAT collectors from October 1, 2022, to 600 large taxpayers […]
Ghana scraps VAT on selected raw materials for medicines
By Nathaniel Nartey Government has taken steps to ensure fair pricing and reduction of in the cost of medicines in a bid to improve access to medications and achieve Universal Health Coverage. These include the scrapping of Value Added Tax, VAT on selected raw materials and equipment used in the production of medicines. This was […]
