nistered in Ghana. The tax regime which started in 1998 had a single rate but since September 2007 entered into a multiple rate regime. In 1998, the rate of tax was 10% and amended in 2000 to 12.5%. However with the passage of Act 734 of 2007, a 3% VAT Flat Rate Scheme (VFRS) began to operate for the retail distribution sector. This allows retailers of taxable goods under Act 546 to charge a marginal 3% on their sales and account on same to the VAT Service. It is aimed at simplifying the tax system and increasing compliance.
Tourism is a rapidly growing sector particularly among Europeans, Americans, and other internationals connected to the Ghanaian Diaspora abroad. Ghana's political and economic stability, low crime rate, and wide use of English make the country an attractive entrypoint to West Africa for foreigners. UNESCO World Heritage Sites including Cape Coast Castle and Elmina Castle, national parks such as Kakum National Park and Mole National Park, as well as cultural celebrations such as Panafest are major centers of tourist activity
