Two Government Revenue Mobilization Institutions, the National Lottery Authority (NLA) and the Ghana Revenue Authority (GRA) are set to launch the Value Added Tax (VAT) Raffle.
The two institutions constituted a joint working committee for the development of the VAT Raffle Product April last year after signing a Memorandum of Understanding in pursuant of Section 5 of the Revenue Administration Act, 2016(Act 915), aimed at enhancing the revenue mobilization efforts of Government for national socio-economic development.
A statement signed by Mr Razak Kojo Opoku, Head of the Public Relations Unit of the NLA, said the VAT Raffle, which is the first of its kind, is expected to ensure Voluntary Tax Compliance in all sectors of the Ghanaian economy, improve VAT Penetration and its acceptance in the country.
It said the Raffle is also expected to strengthen the Provision of Digital Services, e-commerce and the overall digitalization agenda of Government and Fast track the implementation of the much anticipated Cashlite Society in the country.
The statement said the VAT Raffle is an innovative product which has the capacity to improve tax compliance and revenue mobilization in the country to support government’s development agenda.
The GRA and the NLA have been closely working together on the VAT Raffle since last year April 2019.