VAT introduces new service
VAT introduces new service
The VAT Service would from next year allow non-traditional exporters who export at least 25 per cent of their raw material production to qualify for refund instead of the initial 70 per cent.
The initiative is intended to create more job opportunities and to encourage more exports to enhance the country’s foreign exchange earning.
Commissioner of VAT Service, J. F. Odartey Blankson, disclosed this in Accra at a public forum organised by the Service to interact with VAT registered traders.
He said the Service would also zero rates on the supply of textbooks in order to save the situation where most books were published abroad because they were much cheaper.
He said this would enable publishers in the country to compete in the global market.
More: myjoyonline.com