General News of Thursday, 13 October 2022
Source: www.ghanaweb.live
2022-10-13More shutdowns coming – GRA warns defaulting malls, shops after closure of Palace, others
Some branches of the Palace Mall in Accra have been shut down
The Ghana Revenue Authority has issued a word of caution to companies that are yet to enroll on a Certified Invoicing System for the administration of Value Added Tax (VAT) in Ghana, following the amendment of the VAT Act 870.
The Authority, in the past days has closed some major shopping malls including Palace and China mall branches.
This
Read full articlecomes after the GRA began an exercise to ensure compliance by some 50 selected tax-paying companies to be enrolled on the Certified Invoicing System.
The move, according to the GRA, is necessary to help improve Ghana’s domestic tax mobilization efforts.
According to the Deputy Commissioner, Operations-DTRD, Kwesi Eghan, the China and Palace malls are part of the 50 selected tax-paying companies which have failed to comply with the GRA’s requirements.
Mr. Eghan further went on to caution other companies who he noted have also duly been informed about the system and the need to enroll, to do so before the law catches up with them.
“For the 50 people we are talking about, if you have not yet enrolled, we plead with you to do so before the enforcement officers get to your businesses otherwise we will close your shops until you follow due process, he said while speaking in an interview with the UTV.
Mr. Eghan indicated despite these companies having been informed about the deadline for enrolment on the system - October 12, 2022, only 25 out of the 50 entities have so far complied.
“We want to improve compliance. We are more interested in collaboration than chasing businesses to pay their taxes. But we have no option at this moment than to move swiftly to ensure the right thing is done,” he said in an interview with the media.
Meanwhile, Kwesi Eghan has noted that the GRA hopes to enrol 600 large taxpayers into the system in its first implementation phase, which is expected to end in December 2023.
He added that by 2024, all taxpayers would have been fully integrated into the platform.
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