The Ghanaian Revenue Authority (GRA) is making significant strides in modernizing its tax system with the implementation of the second phase of the E-VAT system. Set to begin no later than December 2023, this phase aims to streamline tax processes and enhance revenue collection further in the country.
The second phase of the E-VAT System implementation in Ghana is in place.
Public
Ghana
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
576
Content accuracy validation date:
12.06.2023
Content accuracy validation time:
11:30h
Phase 1 of the E-VAT initiative was launched in October 2022 and will conclude in June 2023. This initial phase targeted 600 taxpayers, specifically those with annual turnovers over GHS 5 million. These taxpayers were selected due to their size and higher risk profiles.
By December 2024, the GRA plans to enroll all taxpayers in the country in the E-VAT system, ensuring widespread adoption.
In addition to the E-VAT implementation, the GRA has already launched a digital services portal and an e-commerce platform. These platforms enable both residents and non-residents to conveniently pay their taxes online, simplifying the tax payment process and enhancing overall efficiency. The rollout of the second phase of the E-VAT program marks a significant milestone in Ghana's efforts to modernize its tax system.
Other news from Ghana
New document was uploaded: Recorded webinar: E-invoicing for Global Retailers
Public
All countries
Author: Kristina Dosen
If you are struggling with complex e-invoicing implementations across multiple countries, and if you are concerned about mounting costs, potential delays, or compliance risks, our webinar will help you to learn how global retailers can streamline e-invoicing efficiently! With countries worldwide mandating e-invoicing, international retailers face unique challenges adapting to new regulations acros... Read more
Checking receipt validity inside E-VAT system in Ghana
Public
Ghana
Author: Tara Nedeljkovic
Ghana
Author: Tara Nedeljkovic
In Ghana, customers can verify the authenticity of an E-VAT invoice or receipt on their own. Below is a detailed explanation of this process. Every valid E-VAT receipt must contain a readable QR code. The Ghana Revenue Authority (GRA) mandates this as part of this tax document to ensure its verifiability. The QR code contains important information such as the taxpayer's TIN (Taxpayer Identificatio... Read more
Is the offline regime of work from a retail store in Ghana possible, and if so, how?
Ghana
Author: Tara Nedeljković
Based on the current requirements, retailers can request to operate in an offline mode with the intervention of the Ghana Revenue Authority (GRA) but only under specific conditions that were defined by the GRA. Read more
Ghana's E-VAT Status: GRA exceeds a preset target
Public
Ghana
Author: Tara Nedeljkovic
Ghana
Author: Tara Nedeljkovic
The Ghana Revenue Authority (GRA) has announced that it has exceeded its target of signing on 600 large companies on its Electronic (E)-VAT platform by over 40 companies. In May 2024, the GRA stated the aim to bring onboard over 600 large companies onto its E-VAT system by June of the same year to enhance revenue collection and monitoring. Speaking at one of the meetings, the Board Chair of GRA,... Read more
The GRAs’ informative statement regarding the implementation of the E-VAT system in Ghana
Public
Ghana
Author: Kristina Dosen
Ghana
Author: Kristina Dosen
The Ghana Revenue Authority (GRA) is in the process of rolling out an electronic VAT invoicing system that will assist businesses and the authority in obtaining real-time monitoring of VAT transactions. More on deadlines and some specifics are as follows. No later than June 2024, six hundred (600) VAT-registered taxpayers will be onboarded into the system to issue electronic VAT invoices based on... Read more
New document was uploaded: Overview of fiscalization in European countries
Author: Kristina Dosen
This document contains an overview of the presence of fiscalization and its types in all European countries. Read more
Ghana Revenue Authority's E-VAT journey - from pilot to full implementation
Public
Ghana
Author: Kristina Dosen
Ghana
Author: Kristina Dosen
The Ghana Revenue Authority published a media release note to enable more clarity on its implementation of the E-VAT system. Notably, the rollout of the E-VAT system has been conducted using a phased approach from the start and will continue in that way. Let's delve deeper into this topic. In that regard, the Pilot Phase has successfully passed: A highly successful pilot has been completed with 5... Read more