- Ghana’s Parliament passed the VAT Bill 2025, exempting small businesses with annual turnover below GH¢750,000 from VAT obligations.
- The bill abolishes the COVID-19 Health Recovery Levy, returning GH¢3.7 billion to individuals and businesses in 2026.
- GETFund and NHIL levies are now eligible for input tax deductions, reducing business costs by about 5%.
- The effective VAT rate drops from 21.9% to 20%, with total reforms expected to provide nearly GH¢6 billion in economic relief.
- Additional measures include scrapping VAT on mineral exploration, extending zero-rated VAT on local textiles, and implementing digital tracking for VAT compliance.
Source: newsghana.com.gh
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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