Ghana Revenue Authority To Begin First Phase of e-VAT Implementation On March 31

The Ghana Revenue Authority (GRA) is will begin the first phase of electronic value-added tax (e-VAT) implementation on March 31 to June 1.

In this phase, GRA will integrate about 600 taxpayers in the Large Taxpayer Office (LTO) into its invoicing system.

The GRA said the targetted 600 taxpayers pay 90 percent of total VAT revenue and a total of 80 percent of the country’s total domestic tax revenue.

The second phase will start immediately after the first phase is completed and will end by the 4th quarter of 2023. The second phase will add about 1000 medium taxpayers.

The third phase of the implementation will include all other VAT-registered taxpayers, and will be effective by the end of December 2024.

The GRA has set a revenue target of GH¢206 billion for 2023. The GRA currently takes in GHC 23.4 billion from VAT.

Source: Business and Financial Times

Follow us on our WhatsApp CommunityTwitter, and Instagram, and subscribe to our weekly newsletter to ensure you don’t miss out on any news.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

Google Announces New AI Features In Gmail, Docs, And Other Apps

Next Article

Flat6Labs Launches New US$95M Venture Capital Fund to Expand its Impact in Africa

Related Posts