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.
Ghana Revenue Authority's E-VAT journey - from pilot to full implementation
Public
Ghana
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
377
Content accuracy validation date:
15.05.2024
Content accuracy validation time:
16:06h
In that regard, the Pilot Phase has successfully passed: A highly successful pilot has been completed with 50+ taxpayers. The test and pilot phase provided a pathway for successful and seamless E-VAT implementation, which prioritized minimal disruption to taxpayers’ back-office processes. During the Pilot Phase, VAT revenue grew by over 58% based on the GRA statistics. Electronic VAT invoicing efficiency contributed to a revenue impact of GHs 124 million, accounting for 32% of this increase.
Phase 1: The initial rollout phase which is currently ongoing, is focused on onboarding large taxpayers who account for 80% of VAT contributions. The revised timeline for Phase 1 is currently 22 April 2024 to 31 May 2024. Initial results from Phase 1 onboarding have been highly encouraging, with a 175% progress rate so far, as measured against weekly onboarding targets.
As for Phase 2, the second phase targets the onboarding of medium and small taxpayers by the end of December 2024 and is planned to be completed by the end of 2024.
Lastly, Phase 3: The final implementation phase targets the integration of all other VAT-registered taxpayers into the E-VAT 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