{"id":922,"date":"2014-02-19T10:01:31","date_gmt":"2014-02-19T10:01:31","guid":{"rendered":"http:\/\/citi.hatuasolutions.com\/?p=922"},"modified":"2014-02-19T10:01:31","modified_gmt":"2014-02-19T10:01:31","slug":"banks-to-begin-charging-vat-on-non-core-services-in-april","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/02\/banks-to-begin-charging-vat-on-non-core-services-in-april\/","title":{"rendered":"Banks to begin charging VAT on non-core services in April"},"content":{"rendered":"<p><a href=\"http:\/\/citi.hatuasolutions.com\/wp-content\/uploads\/2014\/02\/bank.jpg\"><img loading=\"lazy\" class=\"alignright size-medium wp-image-923\" alt=\"bank\" src=\"http:\/\/citi.hatuasolutions.com\/wp-content\/uploads\/2014\/02\/bank-300x168.jpg\" width=\"300\" height=\"168\" \/><\/a>Commercial banks will begin charging VAT on certain services they offer from April this year.<\/p>\n<p>The banking industry was one of a number of new sectors roped into the VAT net recently.<\/p>\n<p>There are fears the latest move will affect growth of the sector.<\/p>\n<p>However, the Finance ministry has asserted that banks will only charge VAT on non-core services and not on basic services they offer.<\/p>\n<p>Some of the non\u2013core services that will affect the VAT charge include legal and accounting advisory and consulting services, safe custody for cash, documents or other valuables as well as consultancy services for Data Processing, Payroll, and debt collection.<\/p>\n<p>Other services that will attract VAT are management services with respect to investments, trust or estates, leases and licensing and similar suppliers relating to property and not financial instruments<\/p>\n<p>By: Vivian Kai Mensah\/citifmonline.com\/Ghana<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial banks will begin charging VAT on certain services they offer from April this year. The banking industry was one of a number of new sectors roped into the VAT net recently. There are fears the latest move will affect growth of the sector. However, the Finance ministry has asserted that banks will only charge [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[4],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banks to begin charging VAT on non-core services in April - Citi 97.3 FM - Relevant Radio. 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