The Ghana Revenue Authority (GRA) is set to implement a revised Value Added Tax (VAT) system aimed at simplifying payment processes and enhancing domestic revenue mobilization.
This follows steady progress in the ongoing comprehensive review of the current VAT regime.
Speaking during a virtual engagement with journalists and civil society organizations, including IMANI Ghana, Acting Commissioner-General of the GRA, Anthony Kwasi Sarpong, revealed that the review is in its final stages and implementation will begin soon.
He explained that Ghana’s growing population currently estimated at over 32 million and expected to reach 40 million in the near future makes VAT a critical revenue source.
“As consumption grows, VAT must grow with it,” he said, adding that the revised system will be designed for greater efficiency and convenience for both retailers and consumers.
Mr. Sarpong recalled that the comprehensive review was first announced in the 2021 budget by the Minister for Finance, and since then, the GRA has been working to ensure that the proposed changes enhance VAT administration and align it more effectively with national revenue goals.
He emphasized that VAT represents the future of taxation in Ghana, and the reforms will position the system to generate sustainable revenue while ensuring fair and practical implementation.
The GRA hopes the final recommendations from the review will inform sound policy decisions, which the Authority is ready to roll out nationwide.
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Source: Comfort Sweety Hayford/ATLFMNEWS
