Audio By Carbonatix
Procurement and accounts officials are asking for a provision in the financial administrative regulations that mandate local government authorities to deduct Value Added Tax (VAT) from goods supplied by unregistered suppliers.
The regulatory framework directs government, ministries, departments and agencies to deal only with VAT-registered traders in purchases and procurements.
However, non-availability of VAT registered traders in rural communities impedes the compliance with the law.
In its bid to enhance compliance and increase revenue mobilization, the Ashanti Regional VAT Service has been engaging accountants, auditors and purchasing officers in a sensitization programme.
Participants at a forum in Kumasi suggested the district assemblies register with the VAT Service in order to collect taxes on its behalf.
Ashanti Regional Acting Head of the VAT Service, Emmanuel Akpaku welcomed the suggestion, saying though the law is silent on the suggestion, it would be considered at the highest management level.
He however noted local assemblies engaged in commercial ventures like guest houses, conference facilities and restaurants, are required to register to charge VAT.
Meanwhile, Mr. Akpaku tells Luv Biz Report the Ashanti region is on course to achieve targets for the year. He says the region is currently five percent above target.
Story by Kofi Adu Domfeh
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
NPP Ashanti holds vigil in support of Wontumi as lawyers appeal conviction
39 minutes -
TCDA targets higher crop yields as farmers receive inputs
42 minutes -
Kofi Amoako Attah inducted into 11th Corporate Ghana Hall of Fame
54 minutes -
Newsfile to discuss AKSA energy deal, legal vacation and GoldBod losses
1 hour -
Gushegu MCE says slain Yiidana was targeted as police investigate killing of chief and son
2 hours -
President Mahama reiterates commitment to link regional capitals with good roads
2 hours -
Ex-Cambridge professor at centre of plagiarism row found dead
2 hours -
ORAL doing fantastic job, Ghanaians will see results soon – Attorney General
2 hours -
TEWU gives government two weeks to address non-teaching staff grievances or face industrial action
2 hours -
Corruption must never pay, Ghana must act – Dr Kofi Amoah charges Mahama
2 hours -
Nene Tek returns: a new chapter, a deeper sound and a bigger vision
2 hours -
Black Star International Film Festival outlines four pillars for 2026
3 hours -
Peace Council urges restraint over religious controversies to prevent tensions
3 hours -
Empower Vault Summit challenges Ghana’s youth to embrace purpose, leadership and opportunity
3 hours -
Fuel prices set to witness mixed reviews at pumps from August 16, 2026
3 hours