Tax & RegulatoryTax update: May, 2018

GRA appointsVAT Withholding Agents

In line with the provisions of the Value Added Tax (Amendment) (No. 2) Act, 2017 (Act 954), the Commissioner-General (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, 2018. From this date, VAT Withholding Agents have the responsibility to:

Withhold 7% of output VAT charge on payments to regis-tered VAT suppliers for stand-ard VAT (i.e. 17.5% 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 immedi-ately following the month to which the returns relate.

GRA appoints VAT Withholding Agents

GRA Withholding VAT Agents | Background

01

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 suppli-ers 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.

1

2

3

Bank of AfricaBank of Baroda Gh.Barclays Bank Ltd.CAL BankEcobank GhanaEnergy Bank GhanaFidelity BankFirst Atlantic Bank Ltd.Ghana Commercial BankGuaranty Trust BankHFC Bank Ghana LimitedNational Investment BankPrudential BankRoyal BankStanbic BankStandard Chartered BankSociete Generale GhanaUnited Bank for AfricaUniversal Merchant BankZenith Bank Ghana Limited Unibank GhanaAccess BankAgricultural Development BankSahel SaharaFirst National BankSocial Security & National Insurance Trust (SSNIT)SIC Insurance Co. Ltd.Bank of Ghana

Controller & Accountant General DepartmentMinistry of RoadsUrban Roads DepartmentMinistry of HealthMinistry of EducationMinistry of Works & HousingMinistry of InteriorMinistry of Local GovernmentGhana Revenue AuthorityGhana Education ServiceGhana Health ServiceFeeder RoadsMinistry of FinanceCOCOBODNational Communication AuthorityElectoral CommissionGhana Ports & HarbourUniversity of GhanaUniversity of Professional StudiesKwame Nkrumah University of Science & TechnologyUniversity of Cape CoastKorle-Bu Teaching HospitalKomfo Anokye Teaching HospitalRidge Hospital (Accra Regional Hospital)Tema General HospitalAccra Technical UniversityKumasi Technical UniversityTakoradi Technical UniversityCape Coast Technical UniversityGIMPAVolta River AuthorityNational Identification AuthorityParliament of GhanaDriver and Vehicle Licensing AuthorityMinistry of DefenseUniversity of Development Studies

1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.25.26.27.28.

1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.25.26.27.28.29.30.31.32.33.34.35.36.

Government InstitutionsFinancial Institutions

List of Appointed VATWithholding Agents

GRA Withholding VAT Agents | List of Agents

02

Dredging Int. ServicesBaker Hughes LimitedWeatherford Ghana LimitedHalliburton Int. IncorporationSchlumberger Seaco LimitedMODEC Ghana LimitedHESS Ghana LimitedNOV Ghana LimitedTetra Netherlands BVUnited Storage Ocean Rig GhanaMaersk Drilling ServicesGulf OffshoreTechnip Offshore UK LimitedFMC TechnologiesEXPRO Gulf Limited Dominion Oil FieldsCanyon OffshoreBurbon OffshoreBristow HelicopterBulkship and TradeMI Holdings (BVI) LimitedSIEM Offshore AS GhanaSRI EMAS Limited

SCANCOM

Vodafone Ghana

MILLICOM/Airtel

1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.

1.2.3.4.5.6.7.8.

1.

2.

3.

Unilever GhanaNestle Ghana LimitedGHACEM Limited WILMAR African Limited Guinness Ghana BreweriesKaysen Gaisie Limited Accra Brewery LimitedFan Milk

Telecommunication

Meridian Port Services1.

Others

Petroleum Subcontractors

Manufacturers

GRA Withholding VAT Agents | List of Agents

03

1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.

Abosso Goldfields LimitedAdamus Resources GhanaAnglogold Ashanti (Iduapriem)Anglogold Ashanti (Obuasi)Chirano Gold MinesGhana Bauxite CompanyGhana Manganese CompanyGolden Star (Wassa) LimitedGolden Star Bogoso/PresteaGoldfields Ghana Limited (Tarkwa)MED MiningNewmont Ghana GoldNewmont Golden RidgeNoble Gold Bibiani LimitedPerseus Mining (Gh) LimitedAsanko Gold Ghana LimitedAfrican Mining Services

Mining

Source: Ghana Revenue Authority

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK

and independent entities. DTTL (also referred to as “Deloitte Global”) does notprovide services to clients. Please see www.deloitte.nl/about for a more detailed

Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited

and related services to public and private clients spanning multiple industries.

world-class capabilities, insights, and high-quality service to address clients’ mostcomplex business challenges. To learn more about how Deloitte’s approximately225,000 professionals make an impact that matters, please connect with us onFacebook, LinkedIn, or Twitter.

This communication contains general information only, and none of Deloitte

the “Deloitte Network”) is, by means of this communication, rendering professionaladvice or services. Before making any decision or taking any action that may

adviser. No entity in the Deloitte Network shall be responsible for any losswhatsoever sustained by any person who relies on this communication.

© 2018. For information, contact Deloitte Touche Tohmatsu Limited.

ContactsGeorge AnkomahPartnerDeloitte GhanaTax & Regulatorygankomah@deloitte.com.gh+233 501 320 895

Wisdom KpanoManagerDeloitte GhanaTax & Regulatorywkpano@deloitte.com.gh+233 501 320 969