While recognizing the important measures and actions taken by the GRA, Importers and Exporters Association of Ghana (IEAG) has urged the GRA to take a more balanced and welcoming approach in order to prevent discouraging both present and new investors from engaging in Ghana’s thriving commercial landscape.
The IEAG has been attentively tracking recent operations carried out by the Ghana Revenue Authority (GRA) in order to deal with non-compliance with the issuance of Value Added Tax (VAT) bills.
The GRA has taken action against two Chinese commercial organizations in an effort to enforce tax legislation, resulting in the arrest of six managers accused of failing to provide VAT invoices despite assurances of tax compliance.
“A friendly and constructive engagement between tax authorities and businesses can facilitate greater understanding of tax regulations, provide guidance on compliance, and ultimately foster a positive business environment.”
Importers and Exporters Association of Ghana
According to IEAG, the importance of tax compliance cannot be overstated, hence, as a responsible representative body, the association unequivocally advocates for its members to prioritize full adherence to the issuance of VAT invoices and the timely filing of VAT returns.
Recognizing the onerous tax burdens faced by the business community, the association acknowledged the significance of fulfilling tax obligations as a responsible corporate citizen.
The IEAG disclosed that “Taxation policies play a crucial role in shaping economic outcomes and fostering an environment conducive to sustainable growth. While businesses contend with the challenges imposed by the tax regime, it is essential to strike a delicate balance between tax obligations and ensuring a conducive business climate that attracts domestic and foreign investment.“
IEAG Suggests Solutions To Be Adopted By GRA
More so, the Importers and Exporters Association has emphasized the significance of sustained dialogue and effective communication channels between the GRA and the business community.
Regular consultations and open lines of communication, as stated by IEAG, can address concerns, clarify tax regulations, and enable a more nuanced understanding of the challenges faced by businesses.
By fostering an environment of mutual trust and cooperation, tax authorities can elicit greater voluntary compliance from businesses.
The Importers and Exporters Association of Ghana asserts that tax compliance is a collective responsibility shared by businesses and tax authorities alike.
While encouraging its members to fulfill their tax obligations, the association urges the GRA to strike a balanced approach in its efforts to combat VAT invoicing non-compliance.
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