- Delayed VAT reform in Ghana is causing uncertainty and threatens fiscal consolidation and revenue mobilisation efforts.
- The current VAT system is complex, with multiple rates and levies, leading to non-compliance and discrimination among businesses.
- The proposed reform aims to simplify and unify VAT rates to improve compliance, efficiency, and government revenue.
- The delay also affects the rollout of the Electronic VAT (E-VAT) system, with businesses reluctant to adopt it.
- Experts believe that improving VAT compliance could significantly boost government revenue and support fiscal stability.
Source: thebftonline.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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