A new team from the International Monetary Fund (IMF) is expected in Ghana today to support the government in overhauling the country’s Value Added Tax (VAT) system.
This mission is separate from the ongoing fourth review of Ghana’s economic program with the International Monetary Fund (IMF).
Speaking at the Ghana Revenue Authority’s (GRA) management retreat, Director of Revenue Policy at the Ministry of Finance, Daniel Nuer, underscored Ghana’s commitment to collaborating with the IMF to address longstanding challenges within the current VAT structure.
“This IMF mission is specifically focused on VAT. The Minister has requested that we provide them all the necessary support to conduct their assessments,” he stated.
The VAT reforms, outlined in the 2025 national budget, are expected to bring significant changes which include the eventual removal of the Covid-19 Health Recovery Levy, a potential recoupling of the National Health Insurance Levy, and adjustments to the tax thresholds for small-scale businesses.
“These measures aim to simplify and make the VAT regime more efficient, transparent, and business-friendly,” Mr. Nuer noted, adding that the reforms will involve extensive stakeholder engagement.
He stressed that transforming Ghana’s tax system is not a one-off event but a continuous journey, noting “It requires commitment and dedication. But I am confident that, together, we can operationalize these reforms and make our tax regime more growth-driven.”
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