- Ghana’s new VAT Act (Act 1151) mandates the integration of Fiscal Electronic Devices (FEDs) for VAT compliance, directly linking transaction-level data from these devices to VAT return filing.
- The Act sets a VAT registration threshold of GHS 750,000 (approximately EUR 60,000) in taxable supplies over a twelve-month period, with provisions for earlier registration under certain conditions.
- The effective VAT rate has been reduced from 21.9% to 20%, comprising 15% VAT, 2.5% National Health Insurance Levy (NHIL), and 2.5% Ghana Education Trust Fund Levy (GETFL).
Source Thomson Reuters
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