NLA, GRA partner to conduct VAT raffle…to enhance govt revenue mobilisation
The National Lottery Authority (NLA), is working with the Ghana Revenue Authority (GRA) to introduce a Value Added Tax (VAT) raffle as part of a strategic move to whip up public compliance with the tax to raise more revenue for the government.
GRA and NLA have been working closely together on the VAT Raffle since April 2019, a statement from NLA said.
“Immediately after the signing of the Memorandum of Understanding in pursuant to Section 5 of the Revenue Administration Act, 2016(Act 915), GRA and NLA constituted a joint working committee for the development of the VAT Raffle Product.”
“The historic partnership between GRA and NLA is aimed at enhancing the revenue mobilisation efforts of government for national socio-economic development,” the statement said.
The VAT raffle, the first of its kind in Ghana, is expected to ensure voluntary tax compliance in all sectors of the economy, and improve VAT penetration.
It also seeks to strengthen the provision of digital services, e-commerce and the overall digitalisation agenda of government.
“The VAT raffle is expected to fast-track the implementation of the much anticipated Cashlite Society in Ghana. The VAT raffle is an innovative product with the capacity to improve tax compliance and revenue mobilisation in the country,” the statement said.
Source: Ghanaian Times