Over sixty representatives of businesses and corporate bodies who attended were taken through topics such as: “Highlights of Revenue Administration Act 915 and “Value Added Tax(VAT) Amendment Act 948 Flat Rate Scheme”.

Mr Thomas Nyaleteh, who educated participants on the VAT, announced that the Act 948 would become operational on I July 2017 hence the need for retailers to make the necessary arrangements to ensure compliance.

According to him, the flat rate of three per cent on goods retailed would not affect the prices of commodities if the calculations are done well. He said the three percent flat rate would not affect manufacturers and service providers who would still be on the standard rate of 7.5 per cent.

Mr Nyaleteh hinted that the VAT flat rate operators shall not be entitled to imput tax claims.

Speaking on” the highlights of Revenue Administration”, Mr Ernest Atimado, said the law enjoins all tax payers to have a Tax Identification Number(TIN) which would offer the platform for all tax information and dealings with the GRA.

According to him,  the TIN would be quoted when clearing goods from the ports, registering land titles, dealing with the Controller and Accountant General Department, registration of all businesses with the Registrar General’s Department among others.

He said the law gave the Commissioner General of the GRA the power to hold managers of companies responsible for corporate tax evasion.   He said when a non-resident worker left the shores of Ghana without paying tax, the companies they worked for would be held responsible.  Mr Kwasi Amofah, Chief Revenue Collector, said GRA would continue its tax education and introduce innovations such as on-line payment for all tax payers to embrace their responsibilities.