The Ghana Revenue Authority (GRA) has assured that it is on track to complete work on the proposed Value Added Tax (VAT) reforms by September 2025.
The reforms, once finalised, will be implemented in the government’s 2026 economic policy and budget.
Commissioner of Domestic Revenue at the GRA, Edward Apenteng Gyamera, made this known to Joy Business after a stakeholder engagement with traders and business associations in Accra. The engagement forms part of a national consultation process to gather input from key players in the trade and business sectors.
The Ministry of Finance initiated the VAT reform following concerns over distortions in the current payment process, which has been in operation for over a decade.
Mr. Gyamera explained that the GRA is holding a series of consultations across the country to ensure that stakeholder views are captured and reflected in the final draft.
“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,” he said. “We should also bear in mind that these are just proposals and not final decisions.”
He assured that most of the contributions from stakeholders will be considered and that explanations will be provided in cases where specific suggestions cannot be incorporated.
The reform aims to broaden the tax base and increase VAT contributions to domestic revenue by over 20%.
Earlier this year, officials from the International Monetary Fund (IMF) met with the government and Finance Ministry to offer technical insights into the reform process.
According to the GRA, those recommendations will be carefully reviewed before any final decisions are made.
Source: Joy Business
