Franko Trading Enterprice shut down for tax evasion

The Circle branch of the Franko Trading Enterprise has been shut down by the Ghana Revenue Authority for tax evasion.

According the Special Revenue Mobilisation Tax Force, the branch of the company, even though has VAT certified receipt, refuses to issue it out to customers.

At the time the tax force visited the premises Thursday, the company was issuing out computer generated invoices which has not been approved by any revenue authority, Starr News’ Osei Owusu Amankwaah reported.

"There are process to follow, first the business needs to apply to the commissioner-general to use its own computer generated invoice. Then our officers will be assigned to audit the system. The system that they are operating should meet certain requirement. There should be a unique serial number, there should be a taxable value; that is the amount without the tax, and there should be the tax which is charged, and then the grand total based on which the customer effects payment.

“ ... If you look at the receipt that it is with me, you have GHC30 as the taxablevalue (the amount without the tax), the tax charge is zero so it means that the consumer is not paying for VAT," Coordinator of the task force Henry Brandford Sam told Starr Business during the shutdown operation.

Some other shops inspected included , Nana Apreku Enterprise, Gyasi & Brothers, Ricamp Phones, Planet Telecom, Mobile Forest Phones.

Meanwhile the Chairman of the Phone Dealers Association, Osei Agyeman told the media that they have been treated unfairly since they were given a short notice by the taskforce. He vowed to mobilise his members to fight the task force from tomorrow, Friday June 17.