By Roselyn Ganyaglo
The Ghana Revenue Authority (GRA), has denied media reports suggesting that the implementation of the E-VAT system is in limbo. Clarifying the issue, the GRA said rollout of the E-VAT system is being conducted using a phased approach.
A statement issued by the Authority said a highly successful pilot has been completed with 50 taxpayers. The test and pilot phase provided a pathway for successful and seamless E-VAT implementation, which prioritised minimal disruption to taxpayers’ back-office processes.
It explained that during the Pilot Phase, VAT revenue grew by over 58 percent, representing additional contributions in excess of 384 million cedis. Electronic VAT invoicing efficiency contributed to a revenue impact of 124 million cedis, accounting for 32 percent of this increase.
The GRA therefore debunked the Daily Graphic publication on Wednesday, 8th May, 22024,titled “E-VAT in limbo: Retail outlets suck economy dry – Nation loses billions in revenue”. The GRA is encouraging clients cooperation and partnership as it continues to onboard them onto the E-VAT system.
