5 Major Developments in Ghana

5 Major Developments in Ghana

• Ghana Aiming To Complete E-Invoicing Rollout By 2025
• Ghana Revenue Authority To Begin First Phase of e-VAT Implementation On March 31
• Federation of Labour calls for more engagement on Excise Duty Amendment Bill
• Changes to preference certificates from Ghana
• Ghana Reduces Electronic Transfer Levy and Increases VAT Rate

---

Customs

• Aflao GRA Customs exceeds 2022 revenue target by GHC 4 million

• GRA beats 2022 target by GH¢3.6 billion

Deduction (Input Tax Credit)

• Ghana enacts various amendments to tax laws introduced in the 2023 Budget Statement

Excise

• Federation of Labour calls for more engagement on Excise Duty Amendment Bill

Exemption

• 2023 budget passed by Parliament includes VAT and e-levy amendments
• Tax Agency Posts Amendments to VAT Act

• Ghana Removes VAT Exemption From Various Supplies Effective 1 January 2023

• Ghana enacts various amendments to tax laws introduced in the 2023 Budget Statement

E-Commerce / Electronic Services

• Changes to VAT and e-levy rates effected and benchmark discount value policy reversed

E-Invoicing

• Ghana Aiming To Complete E-Invoicing Rollout By 2025

• More taxpayers included in the e-VAT system

• e-VAT regime for 600 large taxpayers set to begin

• Ghana Revenue Authority To Begin First Phase of e-VAT Implementation On March 31

• Ghana E-VAT electronic invoicing rollout

• GRA to Complete E-VAT Implementation in December 2024

• VAT registered vendors to be connected to GRA system by 2024

• GRA e-VAT system must succeed

• 2023 budget passed by Parliament includes VAT and e-levy amendments

• Tax Agency Posts Amendments to VAT Act

Fraud / Tax Evasion

• Re-thinking the Consequences of Tax Evasion on Ghana’s Economic Growth, 66 years after Independence

Implementation / Reform

• Ghana Union of Traders Association calls for total reform in VAT implementation

Importation

• Changes to preference certificates from Ghana

• Relief from import VAT and levies available on raw materials for manufacturers

• Changes to VAT and e-levy rates effected and benchmark discount value policy reversed

Invoice

• Ghana enacts various amendments to tax laws introduced in the 2023 Budget Statement

Liability (reverse charge/withholding)

• Relief from import VAT and levies available on raw materials for manufacturers

Rate

• Changes to preference certificates from Ghana

• Ghana Reduces Electronic Transfer Levy and Increases VAT Rate

• 2023 budget passed by Parliament includes VAT and e-levy amendments
• Tax Agency Posts Amendments to VAT Act
• Ghana enacts various amendments to tax laws introduced in the 2023 Budget Statement

• Kwesi Pratt takes on NDC MPs over passage of VAT Amendment Bill

Real Time Reporting/Continuous Transaction Controls

• VAT registered vendors to be connected to GRA system by 2024

Reporting / Compliance

• GRA to Complete E-VAT Implementation in December 2024

• GGEA to Engage GRA on Tax Regime

• GRA to deal with companies defaulting on VAT payment

• Key tax highlights from 2023 budget statement: Indirect taxes

Supply of Services

• Ghana enacts various amendments to tax laws introduced in the 2023 Budget Statement

Taxable Amount

• Changes to VAT and e-levy rates effected and benchmark discount value policy reversed

Tax Authorities / Penalties

• GRA to deal with companies defaulting on VAT payment

Taxable Transaction

• Ghana enacts various amendments to tax laws introduced in the 2023 Budget Statement