Kofi Osei Ameyaw, MD of NLA
A new revenue generation source is in the offing as the National Lottery Authority (NLA) and the Ghana Revenue Authority (GRA) get close to launch a historic VAT Raffle.
It has been predicted that the outcome of the product will see a mammoth increase in the revenue kitty of the government through the two giant money haulers.
Barring unforeseen challenges, the raffle will soon be launched. It is the outcome of a close collaboration between NLA and GRA since April 2019.
It would be recalled that following the signing of a memorandum of understanding (MoU) in pursuant to Section 5 of the Revenue Administration Act, 2016 (Act 915), the two institutions constituted a joint working committee for the development of the VAT Raffle product, and they have been collaborating on it since then.
The goal was informed by the need to open another channel for the enhancement of the revenue mobilization drive of government for national socio-economic development.
The VAT Raffle is unlike no other as it ensures voluntary tax compliance in all sectors of the Ghanaian economy.
Besides improving VAT Penetration and acceptance in the country, it is aimed at strengthening the provision of digital services, e-commerce and the overall digitalization agenda of the government.
Aside from fast-tracking the implementation of the much anticipated Cashlite society in Ghana, the VAT Raffle, being an innovation, comes with an unusual capacity to improve tax compliance, a release from the NLA Public Relations Unit has explained.
By A.R. Gomda