Value Added Tax Act 2013, (Act 870)

The Value Added Tax (VAT) Act, 2013 (Act 870) is the primary legislation governing the administration of VAT in Ghana. It outlines the tax framework for goods and services, detailing how VAT is applied, collected, and accounted for. The act specifies which goods and services are subject to VAT, provides rates, and includes guidelines for VAT-registered businesses on compliance. It also includes provisions for exemptions, VAT refunds, and penalties for non-compliance, ensuring transparency and uniformity in the application of the tax. Act 870 is essential for businesses and individuals involved in taxable transactions within Ghana to understand their VAT obligations fully.