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Business News of Friday, 27 July 2007

Source: GNA

Barriers in tax collection must be removed-Dzamesi

Ho, July 27, GNA- Mr. Kofi Dzamesi, Volta Regional Minister, on Thursday urged revenue collecting agencies to collaborate with government to remove barriers in tax collection towards increased revenue generation.

He said government had taken a number of steps to facilitate voluntary payment of the Value Added Tax (VAT) and indicating that the VAT Clearance Certificate had been introduced in the 2007 Budget. Mr Dzamesi said these in a speech read for him in Ho at the Volta Region launch of the VAT Flat Rate Scheme (VFRS) for retail traders. He said the proper implementation of scheme coupled "with effective customer care values and practices" by VAT officials would promote awareness among the business community. Mr Dzamesi said it would also enhance compliance by the informal retail trade sector in which the VFRS operators would be the major players.

He commended the GUTA for co-operating with the VAT Service in the origination and implementation of the scheme. Mr Anthony Ewereko Minlah, VAT Commissioner, said over 3,000 retail traders nationwide and 40 in the Ho Municipality have been registered under the scheme.

He urged other retail traders to register with the scheme to avoid paying 1,000 Ghana cedis or five years summary conviction under section 56 of the VAT Act, Act 546 of 1998.