The payment of VAT by businesses has been a topical issue for several years. VAT compliance becomes more cumbersome when it comes to the informal sector and small and medium owned businesses. Particularly for retail businesses, there is a perceived low level of compliance with VAT, and this is owing to several factors from complexity of VAT, lack of awareness, lack of competencies, and high implementation costs.
The introduction of E-VAT in 2022 is seen to provide some solutions to these issues, and yet, is the electronic system making an already cumbersome system more complicated?
E-VAT has several implications for businesses in Ghana, including improved compliance, reduced costs, enhanced efficiency, increased transparency, and the need for training and education. The GRA has made significant efforts to ensure the successful implementation of the E-VAT system in Ghana. However, it is important for the GRA to continue to work with businesses to address any challenges that may arise during the transition to E-VAT. The successful implementation of E-VAT in Ghana has the potential to enhance revenue mobilisation, improve the business environment, and promote economic growth.
● explore the implications of E-VAT for businesses in Ghana.
● examine the benefits and challenges of the E-VAT system for businesses in Ghana.
● assess the impact of E-VAT on compliance, cost, efficiency, transparency, and training and education for businesses in Ghana.
● provide insights and recommendations for businesses in Ghana to navigate the E-VAT system effectively.
Who should participate?
UKGCC member companies, professional service firms, members of the Association of Ghana Industries, Ghana Union of Traders Association and the interested public.
Click https://bit.ly/3KHJ1ka to register and participate online.