- Only 40% of registered companies in Ghana comply with VAT, causing significant revenue loss and limiting funding for public services.
- The Ghana Revenue Authority (GRA) has established a National VAT Compliance and Enforcement Team to address low compliance and implement the new VAT Act, 2025.
- An experiment revealed that 60% of shops are not fulfilling their VAT obligations.
- The 26-member team will focus on promoting voluntary compliance, taxpayer education, and consistent enforcement, using data analytics to identify non-compliance.
- Improved VAT compliance is expected to boost domestic revenue and reduce reliance on government borrowing for essential infrastructure and services.
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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