Source: newsthemegh.com
The Ghana Revenue Authority (GRA), according to the Importers and Exporters Association of Ghana (IEAG), has been cracking down on companies that fail to issue VAT invoices in accordance with the law.
Despite their claims to be tax compliant, the GRA recently shut down two Chinese commercial firms and detained six managers for failing to provide VAT invoices.
Even if the GRA task force’s exercise is legal, the IEAG asked the authority to take a cooperative stance in carrying it out in order to avoid scaring off current and future foreign investors.
Regarding the requirement for tax compliance, IEAG asked its members to complete compliance with the issuance of VAT invoices and consistently file their VAT returns as a matter of urgency.
The statement said, “Even though our operations as a business community are burdened with harsh taxes, it is imperative on our side to ensure we fully comply with the necessary tax claims.”