VAT Service introduces new electronic retail outlets

Published in the Daily Graphic on 30/12/2009, back pg

Story: Matilda Attram
The Value Added Tax (VAT) Service has introduced a new point of sale device to retailers who are on the VAT scheme to make the collection and payment of VAT easier.
Known as the Electronic Cash Register (ECR), the device, which is connected to the Internet, keeps records of all sales made by the trader within a particular time and enables him to submit his tax returns promptly.
This came to light at a one-day seminar organised by the local VAT office at Ringway Estates to educate its clients on its rules and regulations and their effect on their operations.
In a presentation, the Supervisor of the Enforcement Unit of the Ringway Estates VAT Office, Mr Alfred Adjah, explained that the device, which started operations in September with about 100 traders registered with the Ringway VAT Office, was on a pilot study in Accra and would be introduced to other parts of the country after a successful evaluation.
“VAT wants to be a modern tax agency in the business system to boost the economy. That is why the ECR has been introduced. It is a simple device that operates from an interactive menu to make operations with the VAT Service easier for our traders,” he said.
Mr Adjah indicated that the device was able to keep records of all sales made by the trader within a particular time and could be accessed when needed.
The officer in charge of Registration, Mrs Rebecca Howard, said businesses and individuals engaged in taxable supplies were qualified to register with the service to improve on their businesses, as well as the national economy.
She said the registration process with the VAT Service enabled it to educate its clients on their rights and responsibilities on the tax paying system.
“We also offer help on the completion of registration forms as we educate the businesses. The aim of VAT is to grow businesses to the benefit of all, not to collapse them,” she stated.
The acting Head of the Ringway Estates Local VAT office, Mr Nelson Dovoh, in his remarks, urged all registered VAT consultants and agents to comply with the rules of the service to enable smooth operation of their businesses.
“Don’t hesitate to lodge a complaint with any of our offices if you have any objection concerning our operations for further explanation,” he said.
He also advised participants to keep record of all documents for reference to avoid the payment of penalty.