Ghana’s Ministry of Finance plans to expand its e-invoicing system (e-VAT) as part of its 2024 Budget and Economic Policy. While no specific timeline was given, the tax authority’s website suggests that implementation may begin in 2023 for medium taxpayers and be completed for all VAT-registered businesses by the end of 2024. The second phase of implementation will cover 600 large taxpayers and over 2,000 small and medium taxpayers, with the e-VAT invoice serving as the basis for all deductible expenses for income tax purposes. The first phase, which included 50 large and high fiscal risk taxpayers, was completed on October 1, 2022.
Source Fonoa
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