Phase 2 of E-VAT rollout to commence
The Ghanian Revenue Authority (GRA) has confirmed in its 2024 budget that it will launch phase 2 of its e-invoicing regime, ‘E-VAT’, in December 2023. Phase 1 started in 2022 and completed. These are large and high-risk taxpayers.
This next phase will include six hundred large taxpayers and more than two thousand small and
medium taxpayers. The help close the VAT Gap, Commissioner-General’s certified invoice will be the only basis for all deductible expenses for income tax purposes.
The final taxpayers will be fully on-boarded by December 2024.
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This group of 600 covers almost 90% of all Value Added Tax revenues. GRA aims to raise VAT’s contribution to tax revenue to 20% by the end of this year and 30% in 2024. The medium-sized taxpayers will be mandated from December 2023.
Our international live VAT invoice transaction and e-invoice tracker on real-time transaction-based tax reporting lists all the countries imposing transaction-based reporting.
The GRA in April 2022 launched its voluntary e-invoicing platform for businesses to adopt electronic invoicing. E-VAT Portal to issue Electronic VAT invoices to customers will be piloted by 100 taxpayers. A pilot for 50 taxpayers (prior to phase 1) ending in October 2022.
Taxpayers report their sales invoices to obtain an electronic tax clearance certificate (e-TCC). The e-TCC allowed taxpayers to generate their certificates online, thereby eliminating the human involvement that led to the faking of such certificates.
This is a part of tax digitisation programme, including cashless payments and online tax filings.
The GRA has already introduced a platform for e-commerce and digital services portal which enables non-resident companies to pay taxes online as well as resident citizens.
Ghana also introduced VAT fiscal cash registers in 2018.