The Ghana Revenue Authority (GRA) has assured that it is on course to conclude all work on the proposed Value Added Tax (VAT) reforms by September 2025.
This is to allow for full implementation by the government in the 2026 economic policy and budget.
Commissioner of Domestic Revenue at the GRA, Edward Apenteng Gyamera told Joy Business after a stakeholder engagement with some traders in Accra, where inputs are being collated from the trade groups and various business associations.
The Value Added Tax reform has become necessary as the Ministry of Finance identified some distortions in the payment processes after implementation for more than a decade.
As part of the review process, stakeholders are being urged to make inputs before the final draft is out.
Mr. Gyamera assured that most of the inputs will be considered and explanations will be provided in cases where particular inputs may not be considered in the reform.
“This is part of the process to get every stakeholder’s input on the upcoming VAT reform by the Ministry of Finance. In all, we have four engagements in Accra and others in Kumasi, Takoradi, and Tamale before releasing the final draft in the next few weeks. We should also bear in mind that these are just proposals and not final decisions,” he assured.
The reform is expected to increase VAT contributions to domestic revenue by more than 20%, as it aims to broaden the tax base.
Earlier in the year, officials from the International Monetary Fund engaged the government and Finance Ministry to provide some insights into the process.
According to the GRA, these suggestions from the IMF will be deliberated on before making any final decision on their implementation.
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