Ghana’s 2024 Budget: VAT Rate Review, Environmental Levies, and Tax Reforms

• Ghana’s Government announced proposed changes to the value-added tax regime in its 2024 Budget.
• The Government plans to review VAT rates to ensure consistency for similar products, regardless of import or domestic production.
• A zero rate of VAT will be introduced for domestically assembled vehicles and locally made African prints.
• New rules will be implemented for standardized invoices and e-invoicing.
• Environmental levies will be introduced on plastic packaging and industrial and vehicle emissions.
• Import duties will be waived on agricultural machinery, equipment, and inputs not available locally.
• The stamp duty regime will be overhauled with rate increases.
• A Special Voluntary Disclosure Programme and simplified tax return will be launched to grow the taxpayer base.

Source: answerconnect.cch.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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