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What is VAT Flat Rate? - Leaks - UpGhana
UpGhana Forum / Leaks / What is VAT Flat Rate? (1 Post | 734 Views)
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What is VAT Flat Rate? by Angiegal(f) : 11:48 am |
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The Ghana Revenue Authority (GRA) has commenced the application of the 3% VAT Flat Rate to replace the previous 17.5% Input – Output VAT computation approach effective July 1, 2017. The old approach, which suffered low compliance due to the extensive paperwork in filing VAT returns is being replaced with the 3% Flat Rate to make it easier for tax payers to comply. Below is a breakdown of the VAT Flat Rate:
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