Wednesday , January 16 2019 8:44 am
Home / Business / Suspend 3% VAT Flat Rate – AGI

Suspend 3% VAT Flat Rate – AGI

The Association of Ghana Industries (AGI) wants the government to immediately put the implementation of the three percent VAT flat rate on hold.

AGI wants government to get back to the consultation table with stakeholders to address their concerns before going ahead with the implementation.

The VAT flat rate came into force July 1, 2017. Some business groups including the Food and Beverage Producers Association of Ghana have expressed reservations about the reintroduction of the levy.

According to them, it could force businesses to pass on the cost to consumers and lay off workers.

However, the Deputy Finance Minister Kwaku Kwarteng said the introduction of the flat rate is to aid government in plugging loopholes in the generation of revenue in the country.

“I am not surprised the Ghana Union of Traders are comfortable with the implementation of the scheme… For those who are saying they will increase their prices, consumers now have a choice,” Kwarteng added.

He noted based on consultation so far, the reintroduction of the 3 percent Vat flat Rate is a good initiative.




Check Also

Menzgold finally pays customers

After a somewhat ‘protracted’ disagreement between embattled gold collectibles dealership firm, Menzgold Ghana Limited and …

Government readies for first tranche of Sinohydro deal

The Minister of Information, Kojo Oppong Nkrumah, has indicated that Ghana is ready to access …

Pure Water Producers call emergency meeting ahead of price increment

The Greater Accra Pure Water Producers Association has called an emergency Pure Water Producers meeting …

Leave Your Comment

%d bloggers like this: