VAT rate increase has not affected prices in
Kumasi
VAT rate increase has not affected prices
in Kumasi
Kumasi (Ashanti Region) 07 June 2000
Prices of goods and services of companies and institutions registered to charge the Value Added Tax (VAT) in Kumasi have not increased in the advent of the 2.5 per cent increase in VAT since last Thursday.
At the Kumasi Home Stores, the increases are being calculated manually and their prices are yet to be computerised while at Melcom stores the prices have remained the same but were being computerised.
Some of the restaurants are still operating with the old rate of 10 percent but some hotels have adjusted their rates.
Some traders however complained that they have not increased their prices because "even at the current prices people are not buying their goods".
Mr. Frank Kpobi, a revenue officer of the VAT Service who led the team of officials to some VAT registered companies, commended their clients for operating within the laid down rules on the VAT.
He told the Ghana News Agency that with the exception of some hotels, which have adjusted their rates, operators of restaurants, supermarkets and stores are still operating with the old prices without any increase.
GRi…/