- The Ghana Revenue Authority (GRA) is enforcing compliance with the Value Added Tax (VAT) law by checking the issuance of fiscal receipts and invoices by companies.
- Non-issuance of fiscal receipts and invoices is a criminal offense and can lead to prosecution under the Revenue Administration Act.
- Suppliers of taxable items, goods, or services are required by law to issue fiscal receipts and invoices, and customers are required to obtain them for goods purchased.
- Offenses include non-issuance, issuance of incorrect receipts, selective issuance, and failure to comply with the E-VAT system.
- Punishments for these offenses include fines, imprisonment, and penalty payments.
- The GRA is modernizing its tax system with the implementation of the second phase of the E-VAT system, aiming to streamline tax processes and enhance revenue collection.
- Taxpayers are urged to comply with the E-VAT system, and the GRA will provide support and guidance for implementation.
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
