VAT Reform Brings Relief to Ghanaian Businesses, GNCCI Celebrates Major Policy Victory

• The Ghana National Chamber of Commerce and Industry (GNCCI) welcomes the government’s VAT reform, ending years of business frustration.
• Businesses had pushed for VAT reform for nearly four years, citing the old system’s complexity and direct costs from various levies.
• The new system consolidates levies into the Standard VAT, allowing businesses to claim input VAT and reducing direct costs.
• The reform simplifies VAT calculations, making compliance easier for businesses.
• GNCCI expects immediate positive impact for businesses, with price effects to be discussed later.

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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