The Ghana Revenue Authority (GRA) is looking to bring the e-commerce sector under control. Plans are to launch a pilot in April, with Ghana’s online gaming and sports betting taxes being the focus. Commissioner General Ammishaddai Owusu-Amoah explained that a new regulatory system is to be brought online, allowing for better control of the growing sector. His hopes are that the electronic-based business sector will be made fully tax compliant.
It was at a ceremony in Volta that the GRA chief explained his plan. He stressed that major efforts are underway to mobilize revenue income and that plans are to meet a bold new revenue target for the year. If all goes according to plan, and the efforts are a success, tax income should top out at GH80.3 billion.
Owusu-Amoah explained that e-commerce has been a very challenging market to bring under control, but stressed that big measures have now been taken to make inroads.
The Right Taxes Paid on Time
He went on to say that communication has been had with both local operators as well as the Gaming Commission and that he is confident of success moving forward. He stressed that the right taxes must be paid by those that use e-commerce services, thereby helping Ghana as a whole benefit from the income.
Owusu-Amoah referred to the Electronic Transaction Levy. The Levy has yet to be fully approved, but it seems like only a matter of time before it is made official. According to the GRA, the levy is essential in helping the country mobilize tax income and reach the lofty GH80.3 billion goal.
Welcoming New E-Invoicing System
The GRA boss finally revealed another big incoming change, referred to as E-Invoicing.
Owusu-Amoah said that the old, manual ways of invoicing are coming to an end. He stressed that when systems are manual there is plenty of room for mistakes, or even for the unscrupulous to find loopholes. It is time to seal these costly leakages, he stressed. He concluded that local traders must do their part in order to help the system be properly adopted, pointing out that a VAT invoice will now become a standard part of local trading.
With the new systems rolling out in April, it remains to be seen how smoothly the systems will come into practice. Either way, it seems as if Ghana is finally taking proper hold of its blossoming e-commerce industry. Online-based trading is sure to be bigger and more lucrative than ever before.