In Ghana, the flexibility in issuing fiscal receipts is notable, as taxpayers are provided with multiple options for how they can deliver these receipts to their customers. Specifically, there are two principal forms of receipts that are allowed to be used and include printed and e-receipts. Printed Receipts: These are the traditional hard-copy receipts that can be provided by retailers during... Read more

Do you even know what DPP is? Digital Product Passports (DPP) are set to play a crucial role in the European Union’s commitment to a circular economy. The purpose of this document is to provide you with a necessary overview of the upcoming Digital Product Passport requirements set to be implemented by the European Union. Read more

The recent amendments to the tax regulations bring a series of changes to Ghana, particularly in the VAT rates affecting certain sectors. These adjustments aim to incentivize certain economic activities while ensuring that essential services remain accessible. Significant amendments include some changes in the area of indirect taxes, as explained below. Reducing the VAT rate applicable to comme... Read more

In this discussion, we have introduced our new partner program and what is essential for international growth, while dealing with topics such as - Success factors for POS applications - What does globalization mean? - How to grow globally? Furthermore, we presented benefits for our partners. Last but not least, we presented our fiscal cloud architecture and its important features.You can down... Read more

Discounts are allowed in Ghana for various reasons, as long as they are fair and transparent. There are some rules for the types, treatments, and presenting discounts on receipts. There are two types of discounts in Ghana: item discounts and total discounts. So, let's find out more about them. Read more

Ghana's Ministry of Finance has published the 2024 Budget Statement delivered in this country's Parliament. Tax measures announced as part of the budget include the following, as written below:. Certified invoices will be required as the basis for all deductible expenses for income tax purposes. The second phase of the electronic invoicing system (e-VAT), covering six hundred large taxpayers an... Read more

Starting a new business in Ghana can be an exciting and rewarding venture, but it also comes with some responsibilities and obligations. One of them is to register for VAT if you meet certain criteria and thresholds. In this article, we will explain what VAT is, who needs to register for it, and how to do it in Ghana. The following provides more in-depth information VAT stands for Value Added Tax... Read more

The Ghana Revenue Authority (GRA) has introduced a new electronic invoicing system for value-added tax (VAT) transactions, known as E-VAT. E-VAT is an electronic means of issuing VAT receipts or an electronic invoicing system for VAT-registered businesses. The E-VAT certifies every invoice issued by taxpayers in near-real time for revenue assurance purposes. Read more

The Ghana Revenue Authority (GRA) has stepped up its efforts to ensure compliance with the Value Added Tax (VAT) law by conducting operations to check the issuance of fiscal receipts and invoices by companies. The GRA's compliance and enforcement unit said that the non-issuance of fiscal receipts and invoices is a criminal offense and can lead to prosecution under sections 78 and 82 of the Reve... Read more

According to the Revenue Administration Act 2016 (Act 915) (RAA), all taxable persons must maintain records of all receipts and payments, revenue and expenditure, and all assets and liabilities for a period of not less than six years from the end of the year to which they relate. This means that taxpayers must keep their invoices, receipts, accounting records, withholding tax exemption letters, an... Read more

The E-VAT service is a system that allows taxpayers to issue electronic invoices and receipts for their transactions. However, there are some situations where taxpayers need to contact the Tax Authority (GRA) as soon as possible to avoid any problems or penalties. Let's find out which are the three main cases where taxpayers should inform the GRA. Here are the three main cases where taxpayers shou... Read more

Ghana is currently introducing a new electronic invoicing (receipt) system for VAT-registered businesses, known as E-VAT, which will improve tax compliance and transparency. Various receipt security features issued using E-VAT engines are created to help accomplish the aim set by the Ghanian Tax Authority. Read more

The Ghanaian Revenue Authority (GRA) is making significant strides in modernizing its tax system with the implementation of the second phase of the E-VAT system. Set to begin no later than December 2023, this phase aims to streamline tax processes and enhance revenue collection further in the country. Phase 1 of the E-VAT initiative was launched in October 2022 and will conclude in June 2023. This... Read more

The authorities in Ghana emphasize in their recent news what the main benefits of the E-VAT system that is being introduced in Ghana are for all taxpayers. But what benefits are we talking about? Among others, the benefits include: Real-time authentication and validation of sales documents (receipts, invoices) Comprehensive training and testing for companies joining the system Dedicated rela... Read more

This document aims to lay out the elements of fiscal receipts and describe the purpose of each of these elements, such as type of transaction, signature, rate of tax, etc. Read more

In Ghana, the E-VAT system (also known as the fiscalization system) was recently introduced to many taxpayers. The implementation of this system began in October 2022 and is expected to be completed in full by the fourth quarter of 2024. To ensure a smooth transition, taxpayers are being enrolled in the E-VAT system based on a predefined timeline. The taxpayers in Ghana are categorized into three... Read more