Business News of Wednesday, 13 May 2009

Source: GNA

Brong-Ahafo steps up VAT education campaign

Sunyani, May 13, GNA - The Brong-Ahafo Regional office of Value Added Tax (VAT) has stepped up an education campaign to whip up the interest of people to regularly file their VAT returns. The campaign is also to broaden the tax net, Mrs. Agnes Adu-Boateng, Manager for Brong-Ahafo Region, told the Ghana News Agency in an interview in Sunyani on Wednesday. She said the VAT secretariat had begun nationwide mass crusade to reach out to the aged, the youth and children to contribute by ensuring the collection of VAT receipts whenever they buy items in the shops and other retail outlets.

Mrs. Adu-Boateng said the campaign was not excluding any group of people among the populace because "time is ripe for the message to be trumpeted into the ears of even basic school children." She said if the message was drummed well into the national psyche, even kids would be reminding their parents and guardians to collect VAT receipts when thy buy any commodity. "If the people insist on being issued with their receipts, national revenue mobilization and target would be maximized and increased to strengthen the economic and financial disposition of the country", the regional manager said.

Mrs. Adu-Boateng said buyers and consumers demanding receipt was one effective means of getting business concerns to file their returns, adding that as long as VAT receipts were not issued or collected by wholesalers, retailers or buyers, the country lost income. She said as the country's internal revenue dwindled through either the non-issuance or collection of VAT receipts, private business owners gained more since the tax meant for the state and which was added to the price of the item went to them.

Mrs. Adu-Boateng said the Internal Revenue Service (IRS) is also faced with the challenge of evasion and non co-operation by business concerns, hence durbars would be jointly organised by the VAT and IRS.