The parent company of Facebook, Meta, has announced that, effective Tuesday, August 1, 2023, in collaboration with the government, it will impose a 21 percent VAT on advertisements on Facebook.
According to the statement by the company, the newly introduced levy will apply to both business and personal advertisements in Ghana.
It was noted in the statement sighted by 1Family Radio that, in addition to the original 15 percent VAT, all advertisers with a business country of Ghana will be subject to taxes of 2.5 percent NHL, 2.5 percent GETFUND, and one percent COVID-19 levy.
Users who are registered for VAT in Ghana will therefore provide their information, including their VAT/TIN number.
“Meta is required to charge VAT levies on the sale of ads to advertisers, regardless of whether you’re buying ads for business or personal purposes,’’ parts of the statement read.
“If you’re registered for VAT and provide your name, address, and VAT ID, your name, address, and VAT ID will show up on your advertising receipts.’’
“In the event that you’re entitled to recover VAT, this may help you recover VAT you paid to the Ghana Revenue Authority if you are a VAT-registered business in Ghana,’’ the statement added.
This e-commerce taxation is another initiative by the Government of Ghana to mobilize revenue internally.
Source: 1Familyradio
