- GRA aims to complete VAT reforms by September 2025
- Full implementation expected in 2026 economic policy and budget
- Stakeholder engagement held to gather inputs from traders and business associations
- VAT reform needed due to identified distortions in payment processes
- Stakeholders encouraged to provide inputs before final draft
- Most inputs will be considered; explanations provided for those not included
- Four engagements planned in Accra, Kumasi, Takoradi, and Tamale
- Reform aims to increase VAT contributions to domestic revenue by over 20 percent
- IMF provided insights into the process; suggestions will be considered before final decisions
Source: myjoyonline.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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