VAT is Four years Old

Mr Alex Asamoah Bonti, acting Assistant Commissioner of Large Trade Control and Excise Unit (LTC/EU) of the VAT Service, has stated that VAT collection had gradually increased from 25.6 percent of total tax revenue in 1999 and expected to cross the 30 percent mark in 2002.

He said the VAT was in its fourth year of implementation and had become an important and permanent feature on the fiscal landscape of the country.

Mr Bonti was addressing executives of VAT Senior Staff Association, executive members of local union of Public Services Workers Union and executive members of VAT Ladies Association at an end-of-year party in Kumasi.

He said a foundation had been laid and it was for the staff to build on it. ''The new year provides you with the ideal opportunity for a new beginning, new ideas, new resolutions as well as new ways and approaches, relationship and attitude''.

The acting Assistant Commissioner said an Exceptional Award Scheme is to be introduced this year to reward members of staff who make outstanding contributions to the effectiveness and efficiency of the VAT office. He said the process to promote and enhance professionalism and provide quality service to all would be maintained and called for the support of the staff.

Mr Bonti appealed to the staff to avoid indiscipline and acts that would put the image of VAT office at risk. Mr Samuel Kofi Otabil, Head of Ashanti region VAT office, commended the staff for their hard work and the efforts to achieve their revenue target.