VAT to maximize revenue collection

Accra Aug 21, GNA- The Value Added Tax (VAT) Service has positioned itself to ensure that some of the leakages in the revenue collection are corrected to make way for maximum collection of revenue in the country. Some of the measures are the surveillance and test purchase exercise, the institution of a complaint and information desk at all VAT offices throughout the country and debt collection exercise.

Mr. Victor Obeng Ampah, Head of the Public Affairs and Information Department of the VAT Service told the Ghana News Agency (GNA) in Accra on Thursday, that the Service will in September this year, come out with information as to measures it will take to "create a level playing field for Value Added Tax (VAT) registered companies".

Mr. Ampah explained that under the surveillance and purchase exercise, VAT officers operating under cover would purchase from Vat registered persons to find out those who default.

He said in July this year, six companies were fined 5 million cedis each for violating the provisions of the VAT Service ACT.

Mr. Ampah said the establishment of a complaint and information desk will help to check non-compliance and abuses of the Service.

He invited the general public to report complaints about the non-issuance of the VAT invoice and other abuses in its operations. He said VAT does not aim to cripple businesses but "these interventions are to make defaulters settle their indebtedness".

Mr. Ampah said in view of the exercise to prosecute offenders, the Service has held seminars for judges through out the country to sensitise them to understand the implication of the abuses of the Vat law.

He said VAT is on course to exceed target set for it this year.