GRA to deploy enhanced technology on E-VAT as 5000 entities prepare to onboard

The Ghana Revenue Authority (GRA) plans to enhance technology for the electronic Value Added Tax (VAT) system this year. Over 5,000 registered VAT entities are ready to go live.

This initiative aims to review the entire VAT payment system. It will capture all VAT-registered taxpayers and provide an upgraded platform.

Anthony Kwasi Sarpong, Acting Commissioner General of the GRA, spoke about the new system. He believes it will simplify VAT accounting for all taxpayers.

Sarpong shared these insights during a virtual meeting with stakeholders. He mentioned that the electronic VAT exercise is ongoing.

“We’re reviewing the entire structure,” he said. The Minister for Finance, Dr. Cassiel Ato Forson, is focused on this review. They hope to conclude soon and seek parliamentary approval.

He assured that modern technology will ensure full accountability in the process. “We have onboarded several taxpayers already,” he added.

Currently, over 3,000 taxpayers are live on the E-VAT system since its introduction in 2022. The GRA is conducting a compliance exercise with existing taxpayers.

This exercise will help assess performance as implementation nears completion. By the end of 2024, over 5,000 taxpayers will be engaged nationwide after discussions with the GRA.

The onboarding process continues despite challenges with taxpayer systems and technical issues. The electronic VAT system aligns with provisions in the Revenue Administration Act of 2016 (Act 915).

E-VAT implementation aims to formalize many informal taxpayers and boost domestic tax revenue. It also seeks to improve efficiency in tax administration and support effective audits.