GRA supports calls for review of VAT policy
GRA Commissioner General Julie Essiam highlighted the challenges posed by the current Value Added Tax (VAT) structure, which she says complicates compliance for both individuals and businesses.
The Ghana Revenue Authority (GRA) has called for policy reforms aimed at simplifying the nation’s tax system.
GRA Commissioner General Julie Essiam highlighted the challenges posed by the current Value Added Tax (VAT) structure, which she says complicates compliance for both individuals and businesses.
Various business associations, including the Ghana Union of Traders Association (GUTA) and the Association of Ghana Industries (AGI), have persistently urged a revision of the current VAT system, criticizing it as a deterrent to private sector growth.
Therefore speaking at the 12th Annual International Tax Conference, she stressed the need for policies that are straightforward and accessible to all.
The two-day event, organized by the Chartered Institute of Taxation Ghana (CITG), was themed ‘Balancing Tax Policy and Private Sector Development.’ It served as a platform for advancing knowledge, fostering collaboration, and shaping the future of taxation and revenue mobilization.
The conference saw participation from both local and international attendees, including government officials, policymakers, CEOs, finance directors, academics, tax practitioners, administrators, and business executives.
Additionally, the GRA Boss emphasized the importance of a single, uncomplicated VAT rate to mitigate the perceived cascading effects within the existing system.
She also noted that revisiting the policy could significantly boost compliance among private sector entities.
Also, the President of the CITG, George Ohene Kwatia, called for prioritizing capacity-building initiatives for tax professionals, leveraging technology to streamline tax administration, and addressing legislative inconsistencies to create a more coherent tax framework.
