Kumasi (Ashanti Region) 9th July '99 Officials of eight Valued Added Tax (VAT) registered companies in Kumasi have been arrested for failing to comply with the VAT law.
The arrest followed a joint exercise by the Ashanti Regional Office of the VAT Service, Regional Police Command and the Attorney General's Department. The offending companies include Forewin Ghana Limited, Askus Limited, Triangle Trio Enterprise, Chinese Fast Food, Karenzia Enterprise, John Addae Enterprise, I.N. Amissah Limited, and Attak Services Limited.
Mr Kwasi Tweneboa-Koduah, Head of the VAT Service in Ashanti, said the offending companies would be prosecuted. Some of the companies were issuing their own invoices to customers instead of that of the VAT Commissioner.
This has created a situation whereby they do not account for VAT collected from customers to the Service. Others too, he said, are refusing to charge VAT on taxable sales. Mr Tweneboa-Koduah warned those who qualify to register to collect the tax but have so far refused to do so to be prepared to face the consequences as the "honeymoon period is over".
He said the VAT Service is determined to bring all such traders to book.
