- Ghana plans a VAT Reward Scheme to encourage customers to request valid VAT receipts, with periodic rewards or prize draws.
- The goal is to improve VAT compliance and reduce revenue losses, which the government says are about 60% of potential VAT revenue.
- The scheme will work alongside nationwide rollout of Fiscal Electronic Devices to better track taxable transactions and limit underreporting.
- The broader VAT reform package also includes lowering the effective VAT rate, removing the COVID-19 levy, raising the VAT registration threshold, and exempting some mineral activities.
- Ghana also piloted a system to collect VAT from non-resident digital platform operators, expected to be deployed nationwide and generate significant revenue.
Source: fiscal-requirements.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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