Ghana Tax Agency Posts Amendments to VAT Act

The Ghanaian Revenue Authority Jan. 19 posted online Act No. 1087, providing amendments to the VAT Act. The amendments include measures to: 1) increase the VAT rate to 15 percent from 12.5 percent; 2) establish VAT exemption for specific activities; 3) review transitional provisions for determining when a taxable person must use an electronic VAT invoicing system; 4) exclude specific activities from the scope of VAT; and 5) provide additional administrative penalties for non-compliance. The act entered into force and took effect Jan. 1. [Ghana, Ghana Revenue Authority, 01/19/23]

Reference: View VAT (Amendment No. 2) Act, 2022. View Announcement ...