- Ghanaian Revenue Authority issued VAT FAQs on estate developer supplies and rentals of immovable property on July 1
- Topics include the 5 VAT rate and 1 percent COVID-19 levy rate on taxable value of immovable property
- VAT registration threshold is an annual turnover exceeding 200,000 Ghanaian cedis
- Registered or registrable developers and suppliers must charge VAT on property supplies
- Developers and suppliers can claim input VAT deductions if engaged in other taxable supplies subject to the standard 15 percent VAT rate
- Exemption for immovable property supplies by non-developers for dwelling or agricultural purposes
- VAT return filing deadline is the last day of the month following the transaction month
Source: news.bloombergtax.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.
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