A joint committee comprising the Ghana Revenue Authority (GRA) and Ghana Real Estates Developers Association (GREDA) has been set up to look into a petition filed by the association over moves by government to rope in the real estate sector into the VAT net.
GREDA last Friday met with the Vice President, Paa Kwesi Amissah-Arthur over the matter.
There are fears that implementation of the tax on the industry will negatively affect the industry and also widen the country’s huge housing deficit.
It’s unclear whether the latest move by GREDA will yield any positive result but Citi Business News has gathered that the committee is likely to come out with its decision on the way forward by the end of this month.
Acting executive secretary of GREDA, Sammy Amegayibor told Citi Business News, the association is hopeful the outcome will be positive dismissing earlier reports that the petition has been shot down by government.