Question Tag: Refund

The following conditions have to be satisfied before a registered VAT trader can get a refund paid on his/her inputs for business purposes:

1. The business must be registered for VAT, that is, he/she must be a registered VAT trader.
2. The business must have submitted returns for all months for which it has been in operations.
3. The business must complete and submit a prescribed VAT claim form for the refund of the VAT paid to the VAT Service.
4. The business must be engaged in the export of 25% or more of the output.
5. Total export proceeds should have been repatriated by importer’s bank to exporter’s authorized dealer banks in Ghana.
6. The VAT paid should qualify as deductible input VAT.
7. The input VAT paid should exceed the output VAT paid.
8. Possession of all original tax (VAT) invoices.
9. Where the credit remains outstanding for a continuous period of three months or more.