GRA appoints VAT Withholding Agents Tax update: May, 2018
GRA Withholding VAT Agents Background GRA appoints VAT Withholding Agents In line with the provisions of the Value Added Tax (Amendment) (No. 2) Act, 2017 (Act 954), the CommissionerGeneral (CG) of the Ghana Revenue Authority (GRA) has appointed entities and institutions to act as VAT Withholding Agents. The appointment of VAT Withholding Agents is in line with the GRA s efforts to improve compliance in the VAT accounting and collection process. The appointment takes effect from Tuesday, 1 May, 201 From this date, VAT Withholding Agents have the responsibility to: 1 2 3 Withhold 7% of output VAT charge on payments to registered VAT suppliers for standard VAT (i.e. 15% VAT) supplies. Issue Withholding VAT Credit Certificate in the form prescribed by the CG to VAT suppliers. Submit Withholding VAT Returns together with payment of VAT withheld to the CG for every month not later than the 15th day of the month immediately following the month to which the returns relate. Based on the above, all entities who are VAT registered suppliers should take note that standard rated supplies made to any of the under listed VAT Withholding Agents would attract a 7% withholding VAT deduction. Effectively, the VAT amount to be received from standard supplies to VAT Withholding Agents would be 10.5% of the VAT charge. The suppliers can however take input VAT credit, where applicable, for the 7% VAT withheld in the new VAT return form. The new VAT and VAT Withholding returns are available for download on the GRA s website - www.gra.gov.gh. 01
GRA Withholding VAT Agents List of Agents List of Appointed VAT Withholding Agents Financial Institutions Government Institutions 9. 10. 1 1 1 1 1 1 1 1 19. 20. 2 2 2 2 2 2 2 2 Bank of Africa Bank of Baroda Gh. Barclays Bank Ltd. CAL Bank Ecobank Ghana Energy Bank Ghana Fidelity Bank First Atlantic Bank Ltd. Ghana Commercial Bank Guaranty Trust Bank HFC Bank Ghana Limited National Investment Bank Prudential Bank Royal Bank Stanbic Bank Standard Chartered Bank Societe Generale Ghana United Bank for Africa Universal Merchant Bank Zenith Bank Ghana Limited Unibank Ghana Access Bank Agricultural Development Bank Sahel Sahara First National Bank Social Security & National Insurance Trust (SSNIT) SIC Insurance Co. Ltd. Bank of Ghana Controller & Accountant General Department Ministry of Roads Urban Roads Department Ministry of Health Ministry of Education Ministry of Works & Housing Ministry of Interior Ministry of Local Government 9. Ghana Revenue Authority 10. Ghana Education Service 1 Ghana Health Service 1 Feeder Roads 1 Ministry of Finance 1 COCOBOD 1 National Communication Authority 1 Electoral Commission 1 Ghana Ports & Harbour 1 University of Ghana 19. University of Professional Studies 20. Kwame Nkrumah University of Science & Technology 2 University of Cape Coast 2 Korle-Bu Teaching Hospital 2 Komfo Anokye Teaching Hospital 2 Ridge Hospital (Accra Regional Hospital) 2 Tema General Hospital 2 Accra Technical University 2 Kumasi Technical University 2 Takoradi Technical University 29. Cape Coast Technical University 30. GIMPA 3 Volta River Authority 3 National Identification Authority 3 Parliament of Ghana 3 Driver and Vehicle Licensing Authority 3 Ministry of Defense 3 University of Development Studies 02
GRA Withholding VAT Agents List of Agents Petroleum Subcontractors Mining 9. 10. 1 1 1 1 1 1 1 1 19. 20. 2 2 2 2 Dredging Int. Services Baker Hughes Limited Weatherford Ghana Limited Halliburton Int. Incorporation Schlumberger Seaco Limited MODEC Ghana Limited HESS Ghana Limited NOV Ghana Limited Tetra Netherlands BV United Storage Ocean Rig Ghana Maersk Drilling Services Gulf Offshore Technip Offshore UK Limited FMC Technologies EXPRO Gulf Limited Dominion Oil Fields Canyon Offshore Burbon Offshore Bristow Helicopter Bulkship and Trade MI Holdings (BVI) Limited SIEM Offshore AS Ghana SRI EMAS Limited Abosso Goldfields Limited Adamus Resources Ghana Anglogold Ashanti (Iduapriem) Anglogold Ashanti (Obuasi) Chirano Gold Mines Ghana Bauxite Company Ghana Manganese Company Golden Star (Wassa) Limited 9. Golden Star Bogoso/Prestea 10. Goldfields Ghana Limited (Tarkwa) 1 MED Mining 1 Newmont Ghana Gold 1 Newmont Golden Ridge 1 Noble Gold Bibiani Limited 1 Perseus Mining (Gh) Limited 1 Asanko Gold Ghana Limited 1 African Mining Services Telecommunication SCANCOM Vodafone Ghana MILLICOM/Airtel Manufacturers Unilever Ghana Nestle Ghana Limited GHACEM Limited WILMAR African Limited Guinness Ghana Breweries Kaysen Gaisie Limited Accra Brewery Limited Fan Milk Others Meridian Port Services Source: Ghana Revenue Authority 03
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