GRA shuts down Palace Mall over non-compliance with VAT system

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Some Palace Mall outlets have been closed by the Ghana Revenue Authority (GRA) due to non-compliance with Ghana’s computerized VAT system.

Labone, Spintex, Atomic Roundabout, and Weija are among the 4 branches that have been shut down.

The China Mall branch in Weija has also been closed, increasing the total number of China Mall outlets closed in the previous 24 hours to five.

This comes after a number of chosen stores purposefully neglected to generate electronic VAT bills when clients made purchases there.

The GRA claims that these businesses’ disregard for its directive indicates that they are underreporting their taxes.

Speaking to the media, Joseph Annan, the Area Manager of the GRA’s Accra central office, warned the business owners from tampering with the Commissioner’s seal since it could make their position worse.

The GRA implemented the Electronic VAT system on October 1, 2022, to stop tax collection leaks and determine the true earnings of firms.

Source: Ghanatodayonline.com

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