Evaluating Ghana’s VAT System: Current Model and Future Impact of Proposed Reforms

The article discusses the current Value Added Tax (VAT) system in Ghana and the potential effects of proposed reforms on the economy. It provides a brief history of VAT legislation in Ghana, highlighting its significance in the country’s economy. The article notes that VAT and related levies have contributed about one-third of the government’s tax revenue over the past five years. It also compares Ghana’s tax-to-GDP ratio with other countries, indicating that Ghana’s ratio is lower than some regional and similar revenue-level countries. The proposed VAT reforms are part of broader economic strategies presented in the Mid-Year Budget Statement aimed at resetting the economy.

Source: thebftonline.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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