Business

Businesses Above GH¢750,000 Turnover Must Register for VAT

The Ghana Revenue Authority has issued a stern reminder that firms exceeding the GH¢750,000 threshold are legally obliged to register for Value Added Tax and issue proper invoices.

Commissioner Dr Martin Kolbil Yamborigya speaking on Joy FM about VAT registration
Businesses Above GH¢750,000 Turnover Must Register for VAT

The Commissioner of Domestic Tax Revenue at the Ghana Revenue Authority, Dr Martin Kolbil Yamborigya, warned on Joy FM’s Super Morning Show that any business with an annual taxable turnover above GH¢750,000 must register for Value Added Tax (VAT) and comply with the provisions of the Value Added Tax Act, 2025 (Act 1151).

He said that businesses engaged in taxable activities that exceed the prescribed threshold are required to register and charge VAT. “Once you make taxable sales or taxable turnover exceeding GH¢750,000, you are required to register,” he said.

Yamborigya cautioned that deliberately refusing to register would not absolve a firm of its tax liability. “Even if you refuse to register, by law, we still consider you registered and liable to charge the tax,” he explained.

The Authority will conduct on‑site visits to selected premises to verify registration, invoicing and compliance. Officials will also monitor whether businesses are charging the correct tax and issuing Commissioner‑approved VAT invoices.

He urged consumers to demand proper VAT invoices whenever they make taxable purchases, adding that the initial focus would be on education and helping taxpayers comply with the law, but that deliberate non‑compliance could attract penalties, interest and other enforcement measures.

Businesses that fail to register may be required to pay the taxes they should have collected on behalf of the government.

Written by

Daniel

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