The National Lottery Authority (NLA) and Ghana Revenue Authority (GRA) – the two strategic revenue mobilisation institutions for government – will officially launch a Value Added Tax (VAT) raffle in the coming days.
The two institutions constituted a joint working committee that has been closely working together on the VAT raffle since last year, April 2019, immediately after signing of the Memorandum of Understanding (MoU) pursuant to Section 5 of the Revenue Administration Act, 2016 (Act 915).
The historic partnership between GRA and NLA is aimed at enhancing the revenue mobilisation efforts of government for national socio-economic development.
The VAT raffle, a first of its kind in Ghana, is expected to ensure voluntary tax compliance in all sectors of the Ghanaian economy, improve VAT penetration and full acceptance in the country. Other expectations include: to strengthen the provision of digital services, e-commerce and the overall digitalization agenda of government; and fast-track implementation of the much anticipated cash-lite society in Ghana.
Head of the Public Relations Unit of NLA, Razak Kojo Opoku, in a statement said: “The VAT raffle is an innovative product with the capacity to improve tax compliance and revenue mobilisation in the country”.