Contractors involved in the construction industry will from now be closely monitored to ensure they comply with the country’s tax laws.It follows the announcement of collaboration between the Ghana Institute of Surveyors and the Ghana Revenue Authority to mobilize more revenue from the construction sector.According to the Institute of Surveyors, though the 2002 VAT amended law, Act 629 requires all players in the sector to pay VAT and the National Health Insurance Levy, compliance is rather low.Its president, Yvonne Sowah is however hopeful the collaboration with the GRA to improve the modalities and procedures for the payment will encourage compliance.She however maintained that starting next year all members who refuse to comply will face the necessary penalties.GRA Commissioner General George Blankson, has meanwhile downplayed concerns that compliance will result in inflated contract sums.Source: Joy News/Ghana