The Ghanaian-German Economic Association (GGEA) seeks to engage with the Ghana Revenue Authority (GRA) on the New VAT Amendment Act and Tax Regime.

The Association at its business Forum on Ghana’s Economic Outlook, under the theme Ghana’s Path to Economic Recovery, reckoned that there’s a critical need for the GRA to be engaged on its modes of revenue collection and operations, as well as some tax policies.

The need for this engagement arose after Mr. Gordon Dardey, Senior Manager at the Tax Unit of KPMG, made a presentation on the New VAT Amendment Act and Tax Regimes introduced by government as part of efforts to raise revenue for economic recovery and for macroeconomic stability.

Participants drawn from top business executives, academia and civil society organisations raised concerns and sentiments about some regulations and operations of the GRA in dealing with businesses during recent times. Among the concerns were issues about withholding tax.

To address these concerns, president of the GGEA Mr. Stephen Antwi, admitted that given the widespread nature of business executives’ sentiments, it’s imperative that there be further engagement with the GRA – for more insight, education and deliberations to strengthen and create a conducive tax compliance and revenue collection environment and processes.

The business and industry players are of the belief that tax collection must be done in a way that does not crowd out business.

It’s the GGEA’s hope they will be able to create a platform for further such engagement that will bring harmony between the GRA and business.

Source: thebftonline.com