• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, September 23, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

GRA Tackles E-VAT Concerns Amid Revenue Losses Allegations

Lawrence Ankutseby Lawrence Ankutse
May 9, 2024
Reading Time: 4 mins read
Lawrence Ankutseby Lawrence Ankutse
in Economy
0
GRA’s Tax Twist, Déjà Vu or Fiscal Fix?

GRA building

The Ghana Revenue Authority (GRA) has addressed concerns about the Electronic Value Added Tax (e-VAT) system’s implementation.

This response comes after a publication on Wednesday, May 8, 2024, titled “E-VAT in limbo: Retail outlets suck economy dry – Nation loses billions in revenue”.

According to the publication, the Value Added Tax (Amendment) No. 2 Act, 2022 (Act 870) requires thousands of eligible companies to adopt the e-VAT system. 

RelatedPosts

Ghana Ahead of Curve: BoG’s 650bps Rate Cut Outpaces Global Easing Cycle

Goldbod Massive Exports Driving Ghana’s Economic Stability – CEO

Bank of Ghana’s 350 Basis Point Gamble: Will Inflation Hold as Lending Rates Fall?

However, despite this mandate, nearly all the listed companies obligated to integrate their billing and receipting systems with GRA-designated systems are resisting compliance. 

This non-compliance is resulting in significant monthly revenue losses for the state, amounting to billions of Ghana cedis annually.

In a statement, the GRA explained that the e-VAT system is being introduced gradually in phases to ensure effective implementation.

It stated that a highly successful pilot was completed with 50 taxpayers, adding, “The test and pilot phase provided a pathway for successful and seamless e-VAT implementation, which prioritized minimal disruption to taxpayers’ back-office processes.”

During the Pilot Phase of the Electronic Value Added Tax (e-VAT) system, the Ghana Revenue Authority reported a significant growth in VAT revenue, exceeding GH¢384 million in additional contributions, representing a 58% increase. 

Electronic VAT invoicing efficiency played a key role, contributing GH¢124 million, or 32% of this growth.

In Phase 1, which is currently underway, the focus is onboarding large taxpayers responsible for 80% of VAT contributions. This phase, initially set from April 22 to May 31, 2024, has shown promising progress, achieving a 175% onboarding rate against weekly targets.

The subsequent phase aims to onboard medium and small taxpayers by the end of December 2024.

Regarding Phase 3, the final implementation phase targets the integration of all other VAT-registered taxpayers into the e-VAT system.

The Ghana Revenue Authority is optimistic about the e-VAT system’s potential to boost VAT contributions significantly. It reassures stakeholders of its unwavering commitment to swiftly implementing the e-VAT system.

The GRA believes that the successful rollout of e-VAT will improve revenue collection, combat tax evasion, and enhance transparency in tax administration, based on the positive outcomes observed during the Pilot Phase.

Electronic VAT System

The Ghana Revenue Authority introduced the updated e-VAT system under the Taxation (Use of Fiscal Electronic Device) Act, 2018 (Act 966) in October 2022 to enhance VAT revenue collection.

This system involves an invoice validation process where each invoice submitted to the GRA receives a unique “sales data controller” (SDC) code containing a timestamp and QR code. The SDC code must be included in PDF invoices sent to customers.

Retail outlets then report their sales invoices to obtain an electronic tax clearance certificate (e-TCC), enabling taxpayers to generate certificates online.

The e-VAT system covers invoices, and credit notes, and requires companies to provide information about inventory and purchases to ensure compliance with tax regulations.

Expert Comment On E-VAT

Abeku
Mr. Abeku Gyan-Quansah

Mr. Abeku Gyan-Quansah, a Tax Partner at PricewaterhouseCoopers (PwC), commented positively on the implementation of the e-VAT initiative. He noted that the government’s intention to address VAT challenges in Ghana makes the introduction of e-VAT a commendable initiative.

“It is expected that so long as we are billing you through this system, it reduces the propensity for VAT fraud because the GRA will have almost instantaneous information. So in our view, what the government intends to achieve with the electronic VAT is a good thing.” 

Mr. Abeku Gyan-Quansah

He however highlighted challenges such as entities not remitting collected VAT to the revenue authority and others not collecting VAT despite eligibility.

Mr. Gyan-Quansah, who is also the PwC West Africa Indirect Tax Leader, stated that when a business operation was placed on the e-VAT, the expectation was that it would give the GRA almost real-time information about the revenue due it.

READ ALSO: U.S To Halt Weapons Supply To Israel If It Invades Rafah

Tags: Abeku Gyan-Quansahe-VATGhana Revenue Authorityrevenue lossessales data controller
Please login to join discussion
Previous Post

NDC Youth Leader Fires Back: Akufo-Addo’s Assertion Against Mahama Unfounded

Next Post

MP Raises Concerns Over EC’s Usage of Offline Registration System

[mc4wp_form id="1264"]

Related Posts

Barima Sidney Breaks Silence On Hiatus From Music Production
Entertainment

Highlife Music Set for Revival Through Online Platforms

September 23, 2025
China Establishes “Strategic Partnership” With Palestinian Authority
Asia

Three-Quarters Of UN Membership Recognize Palestinian Statehood

September 23, 2025
Congo Refuses To ‘Auction’ Mineral Resources
Africa

Congo Refuses To ‘Auction’ Mineral Resources

September 23, 2025
Lands Ministry Insists State of Emergency on Galamsey Not Immediate
General News

Fix The Country Demands Action as Galamsey Crisis Deepens

September 23, 2025
IMANIFesto Examines Parties’ Solutions to Ghana’s Energy Crisis 
Extractives/Energy

ASEC Rejects ECG Tariff Hike, Demands Accountability First 

September 23, 2025
Ghana’s First Lady, HE Lordina Mahama
General News

Ghana’s First Lady Calls for Global Action to Protect Children

September 23, 2025
Barima Sidney Breaks Silence On Hiatus From Music Production
Entertainment

Highlife Music Set for Revival Through Online Platforms

by Esther Korantemaa OffeiSeptember 23, 2025
China Establishes “Strategic Partnership” With Palestinian Authority
Asia

Three-Quarters Of UN Membership Recognize Palestinian Statehood

by Comfort AmpomaaSeptember 23, 2025
Congo Refuses To ‘Auction’ Mineral Resources
Africa

Congo Refuses To ‘Auction’ Mineral Resources

by Lawrence AnkutseSeptember 23, 2025
Lands Ministry Insists State of Emergency on Galamsey Not Immediate
General News

Fix The Country Demands Action as Galamsey Crisis Deepens

by Silas Kafui AssemSeptember 23, 2025
IMANIFesto Examines Parties’ Solutions to Ghana’s Energy Crisis 
Extractives/Energy

ASEC Rejects ECG Tariff Hike, Demands Accountability First 

by Prince AgyapongSeptember 23, 2025
Ghana’s First Lady, HE Lordina Mahama
General News

Ghana’s First Lady Calls for Global Action to Protect Children

by Evans Junior OwuSeptember 23, 2025
Barima Sidney Breaks Silence On Hiatus From Music Production
China Establishes “Strategic Partnership” With Palestinian Authority
Congo Refuses To ‘Auction’ Mineral Resources
Lands Ministry Insists State of Emergency on Galamsey Not Immediate
IMANIFesto Examines Parties’ Solutions to Ghana’s Energy Crisis 
Ghana’s First Lady, HE Lordina Mahama
[/vc_row_inner]

Recent News

  • Highlife Music Set for Revival Through Online Platforms
  • Three-Quarters Of UN Membership Recognize Palestinian Statehood
  • Congo Refuses To ‘Auction’ Mineral Resources
  • Fix The Country Demands Action as Galamsey Crisis Deepens
  • ASEC Rejects ECG Tariff Hike, Demands Accountability First 
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.