Audio By Carbonatix
The Value Added Tax (VAT) flat rate scheme that would facilitate voluntary compliance by taxpayers, particularly those in the retail trade in the Western Region, was launched in Takoradi with a call on institutions to support efforts to maximize tax collection.
Anthony Evans Amoah, the Regional Minister who launched the scheme said the flat rate scheme would make calculations and actual payment of tax simple.
It would widen the tax net to cover those in the formal and informal sectors.
He appealed to people to regard voluntary tax payment as a form of discipline and said taxes must not be seen as the surplus of ones income but compulsory payment of part of one earnings to enhance national development.
Philip Kwesi Nkrumah, Shama Ahanta East Metropolitan Chief Executive, commended the VAT Service for the introduction of the flat rate scheme.
He enumerated some of the benefits of taxes to the government and noted that even though the payment of tax was "a difficult thing to do, it is a civic responsibility and religious obligation for every citizen".
Mrs Akosua Adu-Boateng, acting regional head of the VAT Service, said the introduction of the VAT flat rate for retailers was another milestone in the development tax administration in the country.
She said the scheme, which would come into effect from September was more efficient to operate and it would also eliminate the difficulties in calculating VAT payable under the invoice credit system.
Source: GNA
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
-
Any candidate who contests on NPP’s ticket in 2028 will lose abysmally – Nana Yaa Jantuah
30 seconds -
Firefighters rescue dog trapped in well at Amamorley
5 minutes -
COMAC reaffirms unity amid member self-suspension
6 minutes -
If we can mobilise against disease, why not against poverty, dependency? – Mahama asks leaders
7 minutes -
How solar light is changing life in a small community near Aframso, supporting Climate Action
8 minutes -
Economic gains must be sustainable beyond 2028 – Kyei-Mensah-Bonsu
10 minutes -
Resources should go into rail development, not new expressway – Kyei-Mensah-Bonsu
13 minutes -
CEO of Afcallo Ventures Christabel Ofori reveals how her son inspired her to start a skincare business
16 minutes -
NPP must ensure peaceful primaries amid internal tensions – Asah-Asante
17 minutes -
Emotional stress key factor in men’s sexual performance – Dr Twumasi Ankrah
19 minutes -
Embrace ICT, AI as tools for efficient justice delivery – CJ to new Circuit Court judges
27 minutes -
TikToker granted bail in assault case
33 minutes -
Photos: Mahama leads Accra Reset discussions at World Economic Forum in Davos
43 minutes -
Nigerian remanded as 7 others face charges over illegal entry
43 minutes -
Importers and Exporters Association raises concerns over mandatory local cargo insurance directive
1 hour
