- Companies must now charge VAT at the standard rate and return old flat rate VAT booklets.
- The VAT flat rate system has been abolished; all businesses must comply with the standard rate.
- Goods suppliers must register for VAT if turnover exceeds GH₵750,000; all service providers must register regardless of turnover.
- Businesses must update pricing and accounting processes to align with the new VAT regime.
- Compliance with the new rules is required until the Ghana Revenue Authority completes administrative changes.
Source: thehighstreetjournal.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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