Ghanaian tax law provides for the use of discounts and rebates in the course of business activities, to the extent that the discount satisfies specific conditions and is correctly recorded for VAT purposes in the company’s accounting records. Although historically not considered a risk item during tax audits by the Ghana Revenue Authority (GRA), the discount and rebate policies of some large enterprises have failed to meet the required conditions when tested by the GRA during tax audits.
Source: taxathand.com
Latest Posts in "Ghana"
- Ghana’s 2025 Tax Reforms: VAT on Insurance, Fuel Levy Increases, Informal Sector Scheme Launch
- Ghana to Enforce Fiscal Electronic Device Act for VAT Compliance by Early 2026
- Ghana’s VAT Potential High, Faces Implementation Challenges, Says GRA Chief
- Ghana Reduces VAT to 20% in Major Tax Reform to Boost Compliance and Ease Business Burden
- GFA Urges VAT Rate Adjustment to Enhance Football Development and Club Profitability in Ghana
