Head of the Accra Central Enforcement Unit of the Ghana Revenue Authority (GRA), Assistant Commissioner Joseph Annan, has said there is a loophole in the tax system and efforts have been put in place to close that gap.
According to him, it has come to bear through the ongoing Value Added Tax (VAT) enforcement exercise in Accra that many businesses were violating the tax law.
He said those who have registered were either not issuing VAT invoices or were engaged in selective issuance of VAT invoices.
He stated that more compliance checks would be carried out by the revenue collection authority to compel defaulters to pay their taxes and bring them to book.
Speaking to journalists in Accra after one of the enforcement exercises, Assistant Commissioner Joseph Annan said, “What it means is that, we have to do a lot more compliance checks.
“Businesses operating in the country that have failed to register with the authority or comply with tax laws will be compelled to do the right thing,” he stated.
Since June this year, the Ghana Revenue Authority stepped up its tax compliance and enforcement efforts in a bid to meet its target of collecting GH¢106 billion.
The target represents a year-on-year growth of 40 per cent.
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Ghana Revenue Authority