Business News of Wednesday, 3 December 2003

Source: GNA

Most UW Traders don't issue VAT invoices - Official

Wa, Dec 3, GNA - Most Value Added Tax (VAT) registered traders in the Upper West Region do not issue VAT invoices to their customers, an official of the VAT Service has said.

He said apart from the traders, entertainment centres do not also use the VAT coupons to avoid payment.

Mr Patrick Lartey, Head of the Enforcement Unit of VAT Service, made the revelation to the Ghana News Agency (GNA) at Wa after a one-day random visits to VAT registered traders at Wa to find out the rate of compliance.

He told the GNA that out of the six VAT registered stores they visited at Wa, only two issued the VAT invoice.

Mr Lartey said they had retrieved the goods of one of the traders (name withheld) at Wa and his case was been referred to the Fraud Unit of the Service while verbal warnings had been issued to other traders.

He said the Enforcement and Debt Management Unit would step up its operations during the Christmas festivities to arrest and prosecute defaulters.

Mr Lartey said traders and registered members who do not submit their returns and payments on schedule would also be prosecuted.

Mr Felix Agbenyefia, Regional Head of VAT Service, said compliance had reduced and surprise visits would be made to the offices and stores of registered traders to make defaulters face the full rigours of the law.