Why the GRA closed these businesses is as follows:
Many Ghanaians are unaware that the closure of Palace Mall and China Mall locations was caused by their failure to sign up for a Certified Invoicing System for the management of Ghana’s Value Added Tax (VAT) in the wake of the VAT Act 870’s revision.
The Palace Mall and China Mall are two of the 50 selected tax-paying businesses that are required to be registered on the Certified Invoicing System, according to Kwesi Eghan, Deputy Commissioner, Operations-DTRD.
He stated that only 25 out of the 50 organisations had complied with the enrollment deadline of October 12, 2022.
In addition, according to Kwesi Eghan, the GRA intends to enrol 600 significant taxpayers in the system during the first phase of implementation, which is scheduled to end in December 2023.
He stated that by 2024, the platform would be fully integrated with all taxpayers.
The action is required, according to the Deputy Commissioner, to support Ghana’s domestic tax mobilisation operations.
“We want compliance to increase. Collaboration is more important to us than forcing companies to pay taxes. But at this point, we have no choice but to act quickly to make sure the correct thing is done,” he said.
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