Finance Minister to Cut VAT, Overhaul Tax Laws, and Boost Jobs in 2026 Budget

• Finance Minister Dr Ato Forson will announce a reduction in the effective VAT rate for businesses in the 2026 Budget.
• Major tax reforms, including a possible scrapping of the COVID-19 Levy and a comprehensive review of tax laws, are expected.
• The government plans to simplify the tax regime, improve compliance, and address revenue mobilisation challenges.
• The budget will propose a review of the Public Financial Management Act and improvements to the financial management system to control expenditure and manage debt.
• Initiatives to expand the economy, create jobs, and manage the post-IMF programme economy will be highlighted, with a likely moderate approach to 2026 macroeconomic targets.

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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