Non-compliance with e-VAT system drains Ghana’s economy

• Many retail outlets in Ghana are not complying with the e-VAT invoicing system
• Companies are denying the state millions of Ghana cedis monthly by not integrating their billing system with the GRA designated system
• A mystery shopping revealed widespread non-compliance among businesses
• Some businesses are unaware of the directive or deliberately flouting it
• The pilot phase of the e-VAT system increased revenue significantly
• Further delays in migrating all companies onto the system could cost the country billions of cedis annually
• The government needs additional revenue to close the budget deficit and meet revenue thresholds agreed with the IMF
• The e-VAT system was introduced in October 2022 to improve VAT revenue.

Source: graphic.com.gh

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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