{"id":219698,"date":"2016-06-04T16:00:00","date_gmt":"2016-06-04T16:00:00","guid":{"rendered":"http:\/\/citifmonline.com\/?p=219698"},"modified":"2016-06-04T16:00:00","modified_gmt":"2016-06-04T16:00:00","slug":"guta-demands-clarity-on-3-vat","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/06\/guta-demands-clarity-on-3-vat\/","title":{"rendered":"GUTA demands clarity on 3% VAT"},"content":{"rendered":"<p>The Ghana Union of Traders Association (GUTA) has raised concerns about the <span style=\"color: #666699;\"><strong><a style=\"color: #666699;\" href=\"http:\/\/citibusinessnews.com\/index.php\/2016\/03\/31\/traders-push-for-cancellation-of-17-5-vat\/\">3% Flat Vat Rate system<\/a><\/strong><\/span> which they say is brooding confusion between the association members and the Ghana Revenue Authority.<\/p>\n<p>[contextly_sidebar id=&#8221;l0qRuoNJRvAWcmeet4qxzxEIWCuJXWU9&#8243;]Under the Vat Flat Rate Scheme, retailers with annual turnovers of between GH\u00a2100 million and GH\u00a21.2 billion are expected to pay three per cent of their turnovers as Value Added Tax (VAT).<\/p>\n<p>The 3% flat vat rate which became 17.5% was reverted by government due to GUTA\u2019s insistent calls to shed off some tax load on industry players.<\/p>\n<p>Executive Member of GUTA, Benjamin Yeboah insists the Finance Ministry must be vigilant and look into the matter to settle the emanating misunderstanding.<\/p>\n<p>\u201cWe are in a committee now with the finance ministry with the GRA inclusive, looking at other grievances that we raised including this VAT issue. As Executive Members of the association, we will make recommendations as to how we want it done,\u201d he noted.<\/p>\n<p>He further explained that, \u201cWith the flat vat rate, we actually sat down with the VAT service at that time to negotiate and we arrived at that (three) percent. That was what happened and members had been filing this all this while without any problem so this developing situation is alarming and surprising.\u201d<\/p>\n<p>Benjamin Yeboah further stated there has been a lot of <span style=\"color: #666699;\"><strong><a style=\"color: #666699;\" href=\"http:\/\/citibusinessnews.com\/index.php\/2016\/02\/16\/guta-intensifies-action-against-high-taxes\/\">misunderstanding<\/a><\/strong><\/span> and in some cases, majority of the group\u2019s members have had to leave without making payment.<\/p>\n<p>This he attributed to GRA\u2019s failure to communicate this information to its staff at the Authorities various pay points.<\/p>\n<p><strong>Citi Business News<\/strong> also understands the situation is very critical at the Agbogbloshie and Makola pay points.<\/p>\n<p>\u201cIf you sit down with someone to come out with something that will be easier for those who are the main players, and then the next time you decide to go otherwise without consulting the very stakeholders during implementation, you are going to have problems and that is the problems we are facing now,\u201d Mr Yeboah further observed.<\/p>\n<p>He however urged authorities and the Commissioner at GRA to do well to communicate with its staff and solve the issue immediately.<\/p>\n<p>&#8211;<\/p>\n<p>By: Jessica Ayorkor Aryee\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ghana Union of Traders Association (GUTA) has raised concerns about the 3% Flat Vat Rate system which they say is brooding confusion between the association members and the Ghana Revenue Authority. [contextly_sidebar id=&#8221;l0qRuoNJRvAWcmeet4qxzxEIWCuJXWU9&#8243;]Under the Vat Flat Rate Scheme, retailers with annual turnovers of between GH\u00a2100 million and GH\u00a21.2 billion are expected to pay three [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":219699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171,11],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GUTA demands clarity on 3% VAT - Citi 97.3 FM - Relevant Radio. 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[contextly_sidebar id=&#8221;l0qRuoNJRvAWcmeet4qxzxEIWCuJXWU9&#8243;]Under the Vat Flat Rate Scheme, retailers with annual turnovers of between GH\u00a2100 million and GH\u00a21.2 billion are expected to pay three [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/citifmonline.com\/2016\/06\/guta-demands-clarity-on-3-vat\/\" \/>\n<meta property=\"og:site_name\" content=\"Citi 97.3 FM - Relevant Radio. 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