In response to the revenue gap caused by the abandonment of the value-added tax (VAT) on electricity, government plans to implement a tax on the foreign incomes of resident Ghanaians. Earlier this year, the government introduced a VAT on electricity, but public backlash led to its abandonment, leaving a revenue gap of approximately GH¢1.8 billion. […]
The government has officially announced the suspension of the VAT on electricity. Accra, Wednesday, 7th February, 2024… Reference is made to the Ministry of Finance’s (MoF) letter to the Electricity Company of Ghana, Ltd (ECG) and the Northern Electricity Distribution Company (NEDCO) on the above subject dated 12th December 2023; as well as MoF’s Press […]
In the wake of disagreements about the government’s decision to impose a new Value Added Tax (VAT) on electricity consumers beyond the lifeline threshold, the Electricity Company of Ghana (ECG), the implementing agency, has raised concerns about the law imposing the tax. Although ECG and the Northern Electricity Distribution Company (NEDCO) had been directed to […]
Economist and former Board Chair of the Ghana Revenue Authority (GRA), Prof. Stephen Adei, is kicking against the newly introduced VAT on domestic electricity consumption. He insists it will worsen the plight of consumers and make businesses uncompetitive. His comments come on the back of a government directive to the GRA to liaise with the […]
A swoop by the Ghana Revenue Authority (GRA) Accra South Compliance and Enforcement Team and the police has led to the arrest of a woman behind the operation of a chain of supermarkets and a warehouse in the Teshie area for Value Added Tax (VAT) infractions. The task forces have also summoned the owner of […]
The Ghana Revenue Authority (GRA) has said it has identified a number of businesses that are violating the tax law through its ongoing VAT enforcement exercise in the Greater Accra Region. Through the VAT enforcement exercise, the taskforce found out that many businesses had not registered with the authority, while those that had registered were […]
The Association of Ghana Industries (AGI) has cautioned the government against implementing a policy that would remove taxes on imported sanitary pads while disregarding local manufacturers. According to the AGI, such a measure would have severe negative consequences for the country’s economy. While the idea of waiving duties or taxes on imported sanitary pads to […]
The Ghana Revenue Authority (GRA) will start the imposition of an upfront 12.5 per cent Value Added Tax (VAT) on the customs value of taxable goods at all ports of entry with effect from Tuesday, June 6, this year. The development will affect importers of taxable goods who are not registered to charge VAT. It […]
Six business operators, including two Chinese, have been arrested in Accra for failing to issue Value Added Tax (VAT) invoices to customers. Although the identities of the arrested persons were not disclosed, their businesses were given as Computer Land Ghana Limited, dealers in computers and accessories, and Hiang Vegetables and Fruits Chinese Supermarket, both at […]
Some traders in Kumasi have called on the government to adopt more sustainable and business-friendly tax policies that would help the government to optimise its revenue mobilisation while promoting business growth. According to them, the current Value Added Tax (VAT) policy being implemented by the Ghana Revenue Authority (GRA) “does not support our system.” “The […]
