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General News Fri, 16 Apr 1999

VAT secretariat to punish recalcitrant traders

Accra (Greater Accra), 15th April ?99 ?

The Value Added Tax (VAT) Service has started an exercise to bring to book all traders who are not complying with the VAT law.

They include those qualified to charge VAT but are refusing to do so, those charging VAT but are not issuing approved invoices and those who have registered to collect the tax but are not doing so.

Nii Ayi Aryeetey, Head of the Adabraka branch of the Service said in Accra on Wednesday, that traders who have been granted approval to operate the retail scheme but are not complying with the directive as spelt out in the agreement would also be punished. He said a number of traders have been identified, investigated and proved to be abusing the law adding that warning letters have been issued to them with the intention to apply the relevant sanctions.

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The rate of submission of returns for February has showed a remarkable improvement over that of January. Traders who issued to them with the intention to apply the relevant sanctions.

The rate of submission of returns for February has showed a remarkable improvement over that of January. Traders who have defaulted in the submission of their returns would receive their penalty notices soon.

He said traders who applied before January to the commissioner to be credited with sales tax, which they had paid on their stock that were six months old would have their monies credited to them.

Source: null
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