Impending Automated Perception Process – GRA

Company News from Tuesday, February 12, 2019

Source: goldstreetbusiness.com

2019-02-12

Plans are well advanced to allow the Ghana Revenue Authority (GRA) to begin using fully automated systems to improve the efficiency of the collection of domestic revenue mobilization.

Measures include an electronic filing and payment system, the introduction of electronic fiscal devices (EDFs) and a software revenue collection application. These measures should all begin this year.

The move has become necessary as the AMF seeks to remove all the bottlenecks badociated with tax collection processes and leverages technology to allow taxpayers to file their tax returns and make payments without having to pay taxes. to go through an arduous manual process.

Business automation process systems will streamline and bring transparency to operations as GRA strives to reach its target of more than 44 billion Gh ¢ for fiscal year 2019.

Once fully introduced, potential taxpayers would have the convenience and comfort to file their tax returns and make payments using electronic filing and payment systems from home or their office, instead of having to physically get in the different times people have to queue up long enough to have access to services.

According to the Authority, the details of the automation process will begin with the Large Taxpayers' Bureau (LTO), which will electronically file its returns and make the payment in the same manner before moving to the MTO.

The Authority has also informed the public that the EDFs will be made available to all persons potentially subject to VAT in the country and would be used for the supply of goods and services.

The devices will issue tax invoices after each transaction. Immediately the invoices are issued, the GRA server will be informed of all transactions.

This means that even before the taxpayer declares the transaction, the Administration already knew how many sales and transactions were completed on time.

The introduction of the EDFs should ultimately maximize the mobilization of revenues, their use to allow the Authority to monitor and validate all sales transactions. A legislative instrument should be promulgated to also allow other people and companies that do not charge VAT to also use these devices.

In May 2018, Parliament enacted the Law on Electronic Tax Devices (Law No. 966) to promote cashless sales transactions and to make the use of the device by specified categories of taxpayers at each point of sale in the taxable customer's premises. people.

To improve voluntary tax payments and reduce fundraising costs, GRA will soon start developing a mobile application that allows taxpayers to complete their tax returns and make payments through their tax accounts. mobile money. This follows an urgent directive from Vice President Mahamadu Bawumia last year.