Business

Don’t forcibly migrate traders from VAT Flat Rate Scheme to Standard Rate Scheme – GUTA

The Ghana Union of Traders Association (GUTA) has urged the government against coercing its members to migrate from VAT Flat Rate Scheme to the Standard Rate Scheme.

According to GUTA, for about five years now, they have been operating under the Flat Rate Scheme.

They said VAT invoices they receive are on the 3 and 4 percent Flat Rate Scheme, therefore, any attempt to migrate them to the Standard Rate Scheme will be suicidal.

They contend in a statement that any attempt to go ahead with this Scheme will leave them with no option than to defend their hard-earned working capital against further depletion especially when businesses all over the world are struggling to survive the global economic crises. 

Source: Classfmonline.com

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *