GRA Shutdown 50 Businesses

News in

Philip Acquah, the assistant commissioner of the Ghana Revenue Authority’s (GRA) VAT Administration division, reports that 50 businesses have been shut down for failing to comply with the E-VAT invoicing regime.

The new electronic VAT invoice that is currently being used will enable GRA to link the Commissioner-invoicing General’s system to taxpayers and businesses.

This information was disclosed by Mr. Acquah on Wednesday during an interview with Joy FM’s Top Story.

Due to non-compliance with E-VAT invoicing, GRA closes 4 Palace Mall branches in Accra.

The E-VAT invoicing system enables the GRA to instantly or almost instantly monitor invoices issued to taxpayers so that the Commissioner-General is aware of every single transaction.

However, a few traders have rejected the new approach.

As a result, they have shut down their businesses in opposition to the taxes.

According to Mr. Acquah, closing down businesses is not in the best interest of GRA, but appropriate measures must be taken against tax defaulters.

Accra business owners will close their doors in support of their Kumasi counterparts’ tax protest.

No specific stores have been targeted for closure.

Numerous taxpayers with whom we are collaborating have been selected for the first stage of the invoicing implementation.

Now, the taxpayers against whom we have imposed the necessary sanctions are those who refuse to use the system, he said.

He claims that once the companies consent to join the VAT system, they will be permitted to operate.

GRA closes Game locations in Accra due to E-VAT Invoicing

Numerous companies “have started engaging us, and we have begun the process of opening some of the shops,” he continued.

The implementation of the VAT invoice system, according to Mr. Acquah, is anticipated to be finished by April 2024.

Source: Operanews

Back to top button