Ghana Announces VAT Reforms: Reduces Rates, Repeals COVID Levy, Implements Unified System

Ghana confirms VAT reform plans in mid-year Budget
Reforms were initially proposed in March 2025 Budget
Government agreed with IMF on addressing tax neutrality concerns
Concerns involved three cascading taxes: GETFund levy, NHIL, and COVID-19 levy
Government considered repealing COVID-19 levy and separating GETFund and NHIL from VAT
Plans include reducing effective VAT rate and repealing COVID-19 levy
Aim to remove cascading effect of GETFund and NHIS levies
VAT flat rates to be removed and a unified VAT rate implemented
VAT registration threshold to be raised
Efforts to boost voluntary compliance through awareness campaigns and fiscal electronic device requirements

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.