The government, will from October 1, this year introduce electronic VAT(e-VAT) as measures to increase revenue generation.
As contained in the mid-year budget statement presented to Parliament, the Finance Minister, Ken Ofori Atta says, the Ghana Revenue Authority (GRA), is finalizing all relevant processes to that effect.
This includes a proposed amendment of the VAT Act that will enable electronic collection.
He mentioned that the Ministry of Local Government continues to assist and support the Assemblies, not only to expand their revenue base but to do so with optimal efficiency and effectiveness.
“The following revenue measures will be pursued in the remaining half of the year: The digitalization of our Revenue Mobilization processes remains a key focus; therefore, the GRA is finalizing all relevant processes to facilitate the effective collection of VAT revenue. This includes a proposed amendment of the Value Added Tax Act 870 to enable its electronic collection, effective 1st October 2022.
Property Rate- It is fundamentally important that, together with the Ministry of Local Government, we continue to assist and support the Assemblies, not only to expand their revenue base but to do so with optimal efficiency and effectiveness.
Therefore, the collective efforts of the local government, the Assemblies, and the GRA in launching an end-to-end digitalized process will be realized by August. Extension of Waiver of Interest & Penalty to Dec 2022; and Introduction of upfront payment of VAT on importers not registered for VAT with the implementation start date of 1st October 2022.”
