Ghana: VAT Bill before Parliament

October 4, 2013

Value Added Tax Bill 2013 was presented to Parliament and will soon undergo the third and final reading.

The Bill will repeal and replace the Value Added Tax Act No. 546 of 1998 (the VAT Act 1998).

Unlike the current VAT Act 1998, the bill does not contain administrative provisions dealing with submission of returns and record-keeping, recovery of tax due, objections and appeals, offences and penalties, and directives and powers of the Commissioner General.

Administration provisions will be included in a new law on revenue administration which will consolidate the administration of all taxes and customs duties in one legislation.

Key new features in the bill include:

  • Introduction of the concept of “taxable activity”
  • Clearer rules regarding the treatment of repossession of goods under a layaway arrangement
  • Inclusion of activities of auctioneers within the scope of VAT

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