Importers who have failed to register for VAT to pay additional 12.5% tax - GRA

The Ghana Revenue Authority (GRA) has announced that persons especially importers who qualify to register for VAT but have failed to do so will from today, Tuesday, June 6, 2023, be charged an additional 12.5% on the customs value of taxable goods they import.

According to the Authority, this comes into effect after the passage of the VAT (Amendment) Act, 2022 (Act 1082).

The charge will be an upfront payment which will be charged on taxable goods imported in commercial quantities with a value of GHS 200,000 and above.

GRA in its notice said that the upfront payment is not a new tax.

It is a compliance tool to encourage persons required to register for VAT to register and file tax returns to bring parity in the administration of VAT.

Importers who make the upfront payment may be allowed to recover the amount when they register and file their VAT returns as stated in Act 1082.

“We, therefore, entreat all importers who qualify to register for VAT to make arrangements to register at the nearest Taxpayer Service Centre (TSC) to avoid the upfront payment,” GRA said.

IMPLEMENTATION OF UPFRONT PAYMENT POLICY

The Ghana Revenue Authority (GRA) announces for the information of the general public especially importers, that with the passage of the VAT (Amendment) Act, 2022 (Act 1082),

— GRA (@GhanaRevenue) June 5, 2023