Supported by the World Bank, the VAT objective is to broaden the consumption of the tax-base, facilitate tax compliance, create an overall transparent tax system, discourage under-evaluation and smuggling, self-policing, promote neutrality-does not distort economic decision and contribute to ECOWAS regional fiscal integration. It seeks getting citizen’s views, recommendations and key findings on the current Goods and Services Tax (GST) system, and to replace the current GST in consonance with ECOWAS Directives and how to transition VAT with compliance from the Regional Protocol A/P2/7/96 Establishing VAT in ECOWAS Member States as Liberia is now the only country in the sub-region that has not yet transitioned to VAT.
Source: frontpageafricaonline.com
