Business News of Monday, 25 November 2019Source: 3news.comGRA sued over decision to charge cocoa LBCs VATFile photo: The Ghana Revenue AuthorityThirteen cocoa Licensed Buying Companies (LBCs) have sued the Ghana Revenue Authority (GRA) for its decision to charge them value-added tax (VAT) on trucking and haulage of cocoa beans for the Ghana Cocoa Board (Cocobod). According to the LBCs, they have for 24 years been exempted from paying VAT until this year when the GRA demanded that they register to pay VAT, something they have described as illegal. As such, the LBCs argued that the trucking and haulage of cocoa by their members are exempted from Value Added Tax. The GRA, they said, has shown an intention to subject them to VAT payment from the period commencing from 2014 to date. The GRA and its Commissioner-General by their consistent conduct of never having audited, assessed, valued or charged LBCs for VAT, “have entrenched this legitimate expectation of the Plaintiffs and other LBCs”.

Source: GhanaWeb November 25, 2019 15:22 UTC