
Unchecked imports and the Middle East crisis threaten Ghana’s fragile food inflation anchor
6 mins read
14th October 2022 2:58:02 PM
2 mins readBy: Chris Kodo
Over the past few days, the Ghana Revenue Authority (GRA) has embarked on a mission to close down shopping centres that have failed to comply with the authority’s electronic VAT (E-VAT) invoicing regime.
So far, the operations of 13 shopping centres in Accra have been brought to an abrupt end.
This, according to the GRA, forms part of initiatives to crack down on non-compliance with E-VAT invoicing introduced by the Authority.
The Authority rolled out the E-invoicing system for VAT collectors on October 1, 2022.
Unlike the manual system, the GRA stated that through the E-VAT invoicing system, the Authority can track the transactions of these entities, making it impossible for taxpayers to either under invoice or avoid the payment of VAT.
According to the GRA Area Enforcement Manager of Accra Central, Joseph Annan, about 50 tax-paying companies are supposed to be enrolled in the Certified Invoicing System.
However, since the inception of the policy, he indicated that only 25 companies have complied.
Mr. Annan noted that closing these malls is essential to enhancing Ghana's domestic tax mobilisation efforts.
“We are working with a number of taxpayers, and those taxpayers have been earmarked for the first phase of the invoicing implementation. Now those taxpayers that refuse to be on board are the taxpayers that we have taken the necessary sanction against,” he said.
List of shopping centres closed
Officials of the GRA have shut down five branches of the Palace and China Mall and three branches of the Game Mall.
Five branches of the Palace Mall at the Labone, Spintex, Madina and Weija were closed down on Tuesday, October 11, 2022.
On Monday, October 10, 2022, the Spintex Road, Weija branch, Ashaiman branches of China Mall were also shut down.
Also, the Game Shopping Centre at the Accra Mall, Achimota Mall and the Westhills Mall faced similar punitive measures on Wednesday, October 12.
In a related development, the Regal Chinese Restaurant in Osu, four cold stores at Tema and a beverage distribution company; Josh Nartey ventures and UnderBridge event Centre located in East Legon, have all been shut down for similar reasons.
According to Mr Annan, will only be open to the public after management of these businesses complies with the E-VAT invoicing.
He further issued a word of caution to companies yet to enrol on the Certified Invoicing System to do so before the law catches up with them.
Source: The Independent Ghana
6 mins read
3 mins read
2 mins read
2 mins read
3 mins read
3 mins read
3 mins read
3 mins read
2 mins read