Kofi Ahovi

  Finance Minister Dr. Cassiel Ato Forson has announced a series of tax reforms under the Value Added Tax (VAT) Act aimed at reducing the burden on Ghanaians and eliminating the cascading effects of certain levies. Delivering the 2025 Mid-Year Budget Statement to Parliament on Thursday, July 24, Dr. Forson outlined major tax policy changes the Mahama administration intends to roll out to create a fairer, more growth-oriented tax system. He indicated that the VAT reforms would be finalised by October 2025 and incorporated into the 2026 Budget. I would like to reassure Ghanaians that the COVID-19 Levy will be abolished, the Effective VAT Flat Rate will be reduced, the punitive and cascading effects of the NHIS Levy will be removed, and GETFUND will be removed. VAT Flat Rate will be removed, and a unified VAT Rate will be implemented,” Dr. Forson told Parliament. He explained that these reforms are part of a broader strategy to implement prudent economic policies, boost domestic reven...

  The government's move to remove the COVID-19 levy from the country’s tax laws has received a massive endorsement from the International Monetary Fund (IMF), following engagement with the government. This gives the government the goodwill to proceed with the move, which is likely to feature in the mid-year budget review by the Finance Minister, Dr. Casel Ato Forson, on Thursday, July 24, 2025. According to the Ghana Revenue Authority, several engagements on the new tax reform have progressed steadily as the local business community agrees with the IMF on some of the initiatives. Speaking to Joy Business, Commissioner of Domestic Tax Revenue Division at the Ghana Revenue Authority, Edward Apenteng Gyamera, disclosed that stakeholders agreed on the removal of the COVID-19 levy as well as other tax handles hampering business growth. The Commissioner was speaking at one of the stakeholder engagements on the proposed tax reforms in Accra, where many of the business associations express...