The budget statement included the announcement of an increase in the standard VAT rate to 15% from 12.5%, to increase tax revenue available for road infrastructure development and the government’s digitalization agenda. The current VAT registration threshold of GHS 200,000, and the VAT exemption regimes, have been earmarked for review in 2023.
Source Deloitte
Latest Posts in "Ghana"
- VAT Relief for Manufacturers on Imported Raw Materials Now Subject to Biannual Register Updates
- Consolidated VAT Rules Clarify Digital Services Scope, Exclude Online Gaming, Enhance Compliance Certainty
- Higher Upfront VAT Rate Imposed on Unregistered Importers to Encourage Timely VAT Registration
- VAT Rate Cut to 20%: Levies Now Claimable, Reducing Business Tax Burden
- Act 1151 Mandates FED Integration for Transaction-Based VAT Filing and Enhanced Tax Monitoring
