Can You Deduct VAT on Entertainment Expenses?
No, you can’t deduct VAT on entertainment expenses. The general rule is, VAT registered businesses can offset the input tax on taxable supplies they buy. For types of VAT Supplies see https://www.scg.com.gh/2019/04/08/value-added-tax-basics/ VAT on entertainment is an exception to the rule above – you cannot…
After the Crisis: Enhancing Our Audit Approach to Build Trust
We have a crisis of confidence in audits in Ghana. That audits matter hit home when some banks failed, and the Bank of Ghana stepped in to rescue the weak banks. The public asked, “where were the auditors”? “Can we trust our auditors”? We are…
Buying Computers and Software? To Avoid a Lemon, Consider These Factors
Buying computers and software for small businesses that work is a nightmare for Ghanaian Businesses. Yet, if they want to be efficient and competitive, they can’t avoid computerizing. We know businesses that use Information Technology (IT) are more efficient, use fewer people, save money and…
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