Ghana’s E-VAT System: Over 3,000 Businesses Onboarded, 5,000 More Set to Join
Ghana is embracing digital transformation in its tax administration through the implementation of the E-VAT system. This electronic invoicing platform is designed to enhance transparency, improve compliance, and streamline the Value Added Tax (VAT) collection process. As of May 2024, over 3,000 businesses have been successfully integrated into the E-VAT system, with an additional 5,000 preparing for onboarding. Understanding the E-VAT System The E-VAT system is an electronic means of issuing VAT receipts, applicable to both the VAT Flat Rate and Standard Rate Schemes. It is not a new tax but an improvement on how VAT transactions are invoiced. The system comes in two forms: an all-round e-invoicing system installed free of charge for businesses without one, and another that integrates with existing invoicing systems. Progress and Expansion The rollout of the E-VAT system is being conducted in phases Pilot […]