Source: newsthemegh.com
According to the Ghana Revenue Authority (GRA), 4 businesses were forced to close because they didn’t follow tax compliance rules.
Due to their inability to send Value Added Tax (VAT) invoices to the authority, these enterprises were shut down by the GRA section in charge of guaranteeing compliance and enforcing laws.
The owners of these businesses disregarded the need to send out VAT invoices, which led to their demise.
Eve’s Panties Wholesale Store, Modern Floors Tiles Shop, Cup of Joy Ventures (Grocery Store), and Qingsong Trading Company Limited are among the companies that may experience a shutdown.
These businesses are all located in the Greater Accra area’s Weija Gbawe Municipal District.
All suppliers of taxable items, goods, or services are required by law to issue VAT invoices, according to the GRA, and customers must also get VAT invoices from business owners for any goods purchased.
The general public is advised to abide by these rules and is urged to notify the GRA of any instances of tax infringements. These reports will motivate the authorities to take the appropriate steps.
It is significant to remember that breaking these rules may have legal repercussions, as stated in sections 78 and 82 of the Revenue Administration Act, 2016 (Act 915), which deal with breaking tax laws and impeding tax administration.