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:
Latest Stories
-
Report tobacco users who smoke publicly – FDA advises
5 minutes -
Abdallah Ali-Nakyea elevated to Associate Professor at UG School of Law
34 minutes -
Kick2build commissions 5 libraries in Klo Agogo, donates school supplies
41 minutes -
Slim and Fit Ghana donates to kids at Motherly Love Orphanage in Kwabenya
54 minutes -
We’ll be reorganising ourselves for the battles of tomorrow – NPP
58 minutes -
Ghanaian teacher Morkporkpor Fiador’s GWR Read-A-Thon attempt postponed
1 hour -
Revocation of licences of UT, Capital banks were strict requirements from IMF – Dr. Addison
1 hour -
MP Cynthia Morrison among 280 members expelled by Agona West NPP
1 hour -
NPP to set up committee to investigate 2024 election defeat – Stephen Ntim
2 hours -
New Juaben North NDC executives intercept 24k bags of fertiliser at Koforidua
3 hours -
Luigi Mangione pleads not guilty to murdering healthcare CEO
3 hours -
GhLA opens applications for 2nd Edition of Youth Advocacy Challenge
3 hours -
Remote Work in Africa; the Doballi solution
3 hours -
Stephen Ntim rallies NPP members after 2024 election loss
3 hours -
AratheJay ignites the night with mesmerising ‘Nimo Live’ debut concert
3 hours