Type of fiscalization: Software-based fiscalization system
Ghana is one of the African fiscal countries and is identified by the country code GH and its official currency, the Cedi (GHS). As its tax authority, this country operates under the governance of the Ghana Revenue Authority (GRA) for the purpose of ensuring fiscal compliance. In Ghana, fiscalization revolves around an online-software model, which is characterized by its flexibility and absence of predefined hardware requirements. This approach places a strong focus on leveraging online platforms and software solutions to fulfill fiscal compliance obligations.
In Ghana, fiscalization is mandatory for all VAT payers. Communication between businesses and the tax authority is conducted in real-time and transaction data is sent to the tax authority through a network, facilitating efficient monitoring of sales and services provided to customers. To ensure accuracy and reliability, POS applications undergo certification and need to be integrated with the Ghana Revenue Authority’s system.
From October 1st, 2022. a new fiscalization system is mandatory to comply with.
For more information, details, and all relevant documents about Fiscalization in Ghana, check out our unique Online Fiscal Library.
May 22, 2023