- Many retail outlets in Ghana are not complying with the e-VAT invoicing system
- Companies are denying the state millions of Ghana cedis monthly by not integrating their billing system with the GRA designated system
- A mystery shopping revealed widespread non-compliance among businesses
- Some businesses are unaware of the directive or deliberately flouting it
- The pilot phase of the e-VAT system increased revenue significantly
- Further delays in migrating all companies onto the system could cost the country billions of cedis annually
- The government needs additional revenue to close the budget deficit and meet revenue thresholds agreed with the IMF
- The e-VAT system was introduced in October 2022 to improve VAT revenue.
Source: graphic.com.gh
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.
