- Ghana Revenue Authority has improved tax collection and compliance
- Implementation of e-VAT system crucial for efficient tax collection
- Current VAT system relies on manual processes, leading to inefficiencies and vulnerabilities
- GRA has rolled out e-VAT invoicing system to combat irregularities and increase tax revenue
- Electronic system will enable a larger segment of the populace to contribute to the tax pool
- First phase of implementation covered large taxpayers, with plans to cover all VAT taxpayers by 2024
- GRA aims to raise VAT’s contribution to tax revenue to 20% by December last year and 30% in 2024
- Concern about retail outlets’ reluctance to comply with e-VAT system more than 18 months after initiative began.
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.
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