VAT on Capital Market Services in Ghana: Policy Shift or Legislative Oversight?

• Ghana’s capital market has evolved significantly since the 1980s, expanding from a narrow base to a diversified ecosystem with equities, bonds, and mutual funds.
• The sector has faced recent challenges, notably the Domestic Debt Exchange Programme, which eroded investor confidence.
• The newly introduced Value Added Tax Act, 2025 (Act 1151), imposes VAT on services in the capital market, potentially increasing operational costs for investors.
• The article questions whether this VAT imposition is a policy decision or a drafting error and examines its likely negative impact on market performance.
• Recommendations are offered for regulators, government, and market players to consider ways to restore investor trust and support sector growth.

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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