Site gra gov gh percentage tax on solar products in ghana

Value Added Tax (VAT) is a tax applied on the value added to goods and services at each stage in the production and distribution chain. It forms part of the final price the consumer pays for goods or services. In some countries it is called ''Goods and Services Tax'' or GST. Click HERE to File and Pay for your VAT Standard Rate.

With the passage of The Value Added Tax, (Amendment) No. 2 Act, 2022 (Act 1087) by parliament as law, the VAT rate has been increased from 12.5% to 15%. National Health Insurance Levy (NHIL), Ghana Education Trust Fund Levy (GETFund Levy) and the Covid -19 Health Recovery Levy (COVID-19 HRL) are separate levies that are calculated on the chargeable amounts. The NHIL, GETFund Levy and COVID-19 HRL cannot be deducted as input VAT. These changes have implications on the computation of tax for VAT Registered persons.

Taxpayers are to file their returns and make payments by the last working day of each month immediately following the month to which the returns relate. For example, October returns must be submitted by the last working day in November. If payment is due on the returns submitted, it must be made not later than the date the return is submitted.

The following returns will be submitted by the VAT registered taxpayer• VAT returns for standard rates supplies• VAT flat rate scheme (VFRS) Returns for (VFRS Taxpayer only)• NHIL, GETFund, and COVID-19 HRL Returns.

About Site gra gov gh percentage tax on solar products in ghana

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Site gra gov gh percentage tax on solar products in ghana

About Site gra gov gh percentage tax on solar products in ghana

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