GRA Archives - Page 8 of 13

06 Jun

Sikakrobea Denies Issuing Non-VAT Invoices

wontumionlineBusinessGRA, Sikakrobea, VAT invoices

Our attention has been drawn to a circulation on your twitter handle in respect of our company Sika Kroabea being labeled as non-compliant with regards to issuance of Vat invoices to customers at our North Industrial area branch. This publication has put us in the eyes of the public as a company that does not comply with statutory payment which is not correct. As a company we have complied with all statutory payment due the government and have been given permission by your authority to issue computer generated invoice per attached letter from your office for VAT, NHIS, and WHT…

29 May

GRA Triggers Upfront VAT Compliance Strategy From June 6

wontumionlineBusinessGRA, VAT

Barring any last minute glitch, the Ghana Revenue Authority (GRA) will on June 6 this year begin implementing a new tax compliance tool referred to as the Upfront Payment of Value Added Tax (VAT). The upfront VAT payment, according to the GRA, is not a new tax but a compliance tool – which law was passed last year, 2022, in the VAT amendment Act (Act 1082) that requires charging an additional 12.5 percent on the Customs value of goods imported by businesses which are mandated to register for VAT but have failed to do so. Speaking to the B&FT at a media…

26 May

4 Lebanese Business Owners, 3 Others Arrested Over VAT Infractions

wontumionlineBusinessGhana Revenue Authority, GRA, VAT

Seven people have been arrested in an ongoing VAT compliance exercise by the Investigation Unit of the Ghana Revenue Authority (GRA) for allegedly failing to issue VAT receipts to customers who patronize their goods and services. The accused persons include four Lebanese business owners and three Ghanaian business managers operating at North Industrial area and North Kaneshie in Accra. The seven business operators, MS Thakkar Overseas Limited, Sika Kobrea, Best Five Company Limited and City Appliances, dealers in the wholesale of beverages, rice and home appliances were picked up by the VAT Investigation Taskforce of the Ghana Revenue Authority for non-issuance of VAT receipts…

26 May

GRA Conducts Swoop On Two Companies For Non-Issuance Of VAT Invoice To Customers

wontumionlineBusinessGRA, VAT

The Ghana Revenue Authority (GRA) has conducted a swoop exercise on two companies for non-issuance of VAT Invoice to customers. The exercise took place at North Industrial Area, Kaneshie in Accra on Thursday, May 25 The two companies; Sika Kroabea Company and Ms Thakkar Overseas LTD deal in the wholesale of beverages and rice. The exercise was led by Accra Central Area Enforcement Manager, Mr. Joseph Adjeikwe Annan. LIVE UPDATE: THE GRA HAS CONDUCTED A SWOOP EXERCISE ON TWO COMPANIES FOR NON-ISSUANCE OF VAT INVOICE TO CUSTOMERS AT NORTH INDUSTRIAL AREA, KANESHIE. THE TWO COMPANIES; SIKA KROABEA COMPANY AND MS…

17 May

GRA Taskforce Arrests Managers Of Restaurants For Tax Infractions

wontumionlineBusinessGRA, Tax

The Ghana Revenue Authority (GRA) taskforce has arrested two managers of restaurants and the staff of an electrical cable company in Accra for not issuing VAT tax invoices. The companies are Waves Lounge and Pub, Chez Amis Pub and Grill, and Grand Pacific Limited, dealers in general electrical cables. The managers were taken to the Customs Office at the headquarters for their statements before being handed over to the Criminal Investigation Department of the Police. Edward Appenteng Gyamerah, Commissioner, Domestic Tax Revenue Division, GRA, said the managers had refused to issue certified VAT invoices by the Commissioner-General at the point…

20 Apr

ECG, GRA Negotiate To Offset GH¢600 Million Tax Obligation

wontumionlineBusinessECG, GRA

The Electricity Company of Ghana (ECG) is negotiating with the Ghana Revenue Authority (GRA) to offset about GH¢600 million of its tax obligations to the state. The company intends to write off the debt of some “sensitive” public sector institutions that have accumulated over the years Mr Samuel Dubik Mahama, the Managing Director, ECG, who disclosed this in an interview said the amount would still not be enough “as we owe GRA over a billion Ghana cedis in taxes.” ECG has so far retrieved about GH¢2.5 billion out of GH¢5.7 billion debt it intends to recover from a month-long revenue mobilisation exercise.…

20 Apr

We Will Carry Out Our Mandate Without Fear Or Favour – Deputy GRA Commissioner

wontumionlineBusinessGRA

Deputy Commissioner of the Customs Division of Ghana Revenue Authority (GRA), Emmanuel Ohene, has said his outfit is ready to collect the newly implemented taxes assented into law by President Nana Addo Dankwa Akufo-Addo. According to him, his division will carry out their mandate without fear or favour and ensure that every Ghanaian becomes tax compliant. In an exclusive interview with GhanaWeb’s Ernestina Serwaa Asante on the sidelines of the AfCFTA Business Forum held in Capetown, South Africa, Mr Ohene said the collection of taxes helps in the building of a robust economy. “In the wisdom of government, these taxes were introduced to…

13 Apr

Ghana’s Tax Revenue To Grow Strongly In 2023 And Subsequent Years – IMF

wontumionlineBusinessApril 2023 Fiscal Monitor Report, Expenditure, GRA, imf, tax revenue

Ghana’s tax revenue is expected to grow strongly this year and the next five years, the International Monetary Fund April 2023 Fiscal Monitor Report has revealed. According to the report, the country’s tax revenue to Gross Domestic Product (GDP) is estimated at 17.2% in 2023. This is from 15.6% recorded in 2022. Per the figures, the country’s tax-to-GDP ratio will inched up to 17.9% in 2024 and then expand further to 18.4% in 2025. It will subsequently inched up to 18.7% in 2026 and remain stable in 2027 and 2028 respectively. This will almost push the tax revenue to the…

06 Apr

GRA Must Learn From ECG And Also Go Round To Collect Property Tax – AGI

wontumionlineBusinessECG, GRA, Property tax

Executive Member of the Association of Ghana Industries (AGI) Tsonam Akpeloo has asked the Ghana Revenue Authority (GRA) to follow the example of the Electricity Company of Ghana (ECG) that is going round to collect its debts, to also do the same and collect property tax. Tsonam Akpeloo indicated that property tax is one of the areas where the government can generate revenue, not only through taxing businesses. Speaking on the Ghana Tonight show on TV3 Wednesday, April 5 in connection with the three revenue bills – Excise Duty, Growth and Sustainability Levy and Income Amendment Bills – that have been approved by Parliament,…

05 Apr

Government Quietly Creeps In Digital Transport Fee For Ride-Hailing Apps?

wontumionlineBusinessBolt, Digital Transport Fee, DVLA, GRA, Uber

Ghanaians who patronize ride-hailing apps are in to pay more as the government introduces a Digital Transport Fee (DTF) effective April 1, 2023. According to a directive from the Driver Vehicle and Licensing Authority (DVLA), the fee has been pegged at GH¢1 per trip. One of the ride-hailing companies, Uber, in an e-mail to its customer noted that a new fee will be applied and it will be set at GH¢1 per trip. In addition to this, a booking fee of GH¢2 will also be applied for every trip ordered via the ride-hailing companies. The DTF will be displayed as…