- Ghana Revenue Authority plans to roll out a reformed VAT system requiring businesses to use Fiscal Electronic Devices (FEDs) and send transaction data to the tax authority in real time.
- Parliament has approved funding for procurement and deployment of 40,000 FEDs nationwide, with the first phase targeting mid-sized shops and supermarkets.
- VAT compliance is estimated at about 40%, so the measure aims to improve reporting and collection of VAT revenue.
- The rollout is backed by Act 966 and linked to the newer VAT Act 2025, which supports real-time electronic VAT reporting and a GHS 750,000 registration threshold.
- Retailers, POS vendors, and system integrators should prepare for device installation, certification, and integration requirements as implementation details are finalized.
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.
Latest Posts in "Ghana"
- Ghana Enacts Major VAT, Tax, and Customs Reforms
- Ghana Exempts Mandatory Gold Sales to the State from VAT
- Ghana Proposes Customs Reforms to Boost Revenue and Curb Abuse
- Free Zone Reforms to Boost Export-Oriented Manufacturing
- VAT Compliance Reforms: Digital Platforms, Electronic Devices, and Reward Scheme
