The Ghana Revenue Authority (GRA) says recent VAT reforms are easing pressure on consumers, with about GH¢6.5 billion returned to households following a drop in prices.
According to the Authority, prices of goods and services have declined by about 1.9 per cent since the reforms took effect, following the reduction of the effective VAT rate to 20 per cent.
Speaking during a VAT compliance monitoring exercise at shopping malls in the Spintex enclave, Commissioner-General of the GRA, Anthony Sarpong, said early signs show the reforms are working as intended.
He explained that the changes include a reduction in the VAT rate, the removal of the COVID-19 levy, the decoupling of VAT, and higher thresholds for smaller businesses.
Mr Sarpong said checks conducted at several shops showed that businesses had updated their systems and were applying the new VAT rates.
He noted that interactions with shoppers also confirmed growing satisfaction with the lower prices, reinforcing government’s claim that the reforms are effectively putting money back into the pockets of Ghanaians.
The GRA boss used the visit to urge businesses to comply with the revised VAT framework voluntarily and to call on consumers to demand VAT invoices whenever they make purchases to strengthen enforcement.
He stressed that sustained compliance by both businesses and consumers is key to mobilising revenue for national development.
According to him, responsible tax compliance will support government’s broader economic agenda of growth, job creation, and national transformation.
He added that the vision outlined by President John Dramani Mahama for 2026 depends mainly on the country’s ability to generate sufficient domestic revenue.
Malls visited during the exercise, including Palace Mall, Melcom, Orca Décor, United Commercial Trading, and Palace Home Décor, confirmed that their systems had been recalibrated to reflect the new VAT regime.
Customers at the malls also welcomed the changes, saying the price reductions were already being felt at the tills.
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