- The Ghana Revenue Authority (GRA) has called an emergency meeting with traders to address concerns over the new 20% VAT.
- Traders have threatened to strike due to dissatisfaction with the new VAT Act.
- The GRA Commissioner General claims the new VAT regime will benefit traders, as input VAT is now fully deductible.
- A technical team has been set up to assist traders in understanding the new tax calculations.
- The GRA rejects claims that the new VAT will increase business costs, emphasizing the deductibility of the rate.
Source: myjoyonline.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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