The Importers and Exporters Association of Ghana (IEAG) says it has been monitoring with keen interest an ongoing operation by the Ghana Revenue Authority (GRA) to clamp down on businesses that do not comply with the issuance of VAT invoices.
In recent times, the GRA has closed down two Chinese business firms and arrested some six managers for their failure to issue VAT invoices despite their claims of being tax compliant.
IEAG in a statement said even though the exercise by the GRA task force is in order, it urged the authority to adopt a friendly approach in undertaking such an exercise so as not to scare away existing and potential investors in the country.
Touching on the need to be tax compliant, IEAG urged its members to, as a matter of urgency, ensure full compliance to the issuance of VAT invoices and regularly file their VAT returns.
“Even though our operations as a business community are being saddled by harsh taxes, it is imperative on our side to ensure we fully comply with the necessary tax claims,” the statement added