Ghana’s VAT Potential High, Faces Implementation Challenges, Says GRA Chief

• VAT is a consumption tax important for economic growth.
• As population increases, consumption and production should also rise.
• VAT has significant future potential in Ghana.
• Current VAT system in Ghana faces challenges.
• There are three VAT levels: exempt, 3 percent, and 15 percent.
• Different VAT rates create market distortions and affect consumer behavior.

Source: youtube.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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